Nov
01
2010
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Where Can I Find Unclaimed International Money and Property?

unclaimed property assets money coin medal collection nkcrBelieve it our not, people abandon their valuables all the time, to the tune of billions of dollars of unclaimed assets sitting in accounts around the world. Perhaps someone moves away from home and forgets about their local bank account or safe deposit box. Or a property passes on to an heir who cannot be [more...]

Aug
25
2010
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What is a Payday Loan?

monopoly board collecting salaryPayday Loan is the name given to a short-term loan or cash advance which as its name suggests is only required until the borrower’s next payday when it can be paid back. A tide-you-over loan is often seen as a quick answer to a temporary shortage of money, but it is not designed as a [more...]

Jul
29
2010
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What is Britain’s newest bank?

piggy bankBritain’s newest high street bank has just opened. Metro Bank plc is the first new public bank to be created for over 100 years. The last public bank was the Co-operative (originally CWS Loan and Deposit Department) established in 1872. Metro Bank is completely independent and not associated with any other bank. The bank is [more...]

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Jul
15
2010
2

What is the National Savings and Investments?

piggy bankThe National Savings and Investments, also known as NS&I, is one of the largest savings banks in the United Kingdom, accounting for 10% of the UK retail savings investments market. It has 27 million customers and manages over £66 billion in investments. Unlike other banks which are ultimately owned by shareholders, the NS&I is an [more...]

Jul
12
2010
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What are shareholders’ perks?

british airways aircraftWhen you buy a share in a company you are hoping that the company will be successful and it will offer good shareholder dividends and that the share price will also increase. But many people forget that there are a surprising number of companies which also offer perks and benefits to their shareholders. Companies offer [more...]

May
24
2010
2

Is there a problem with the Financial Services Compensation Scheme?

bank of englandAs we have all seen recently, the banking system is unstable. In the event that a bank goes bust and the bank’s liquidators are unable to repay your money, then the government’s Financial Services Compensation Scheme is available as place of last resort. However, there is a potential problem with the scheme which one must [more...]

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Apr
08
2010
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Can I give away all my money and then claim social security benefits?

british coins on table piled upThe state welfare system in the UK provides a number of benefits which are intended for the relief of, and protection against poverty. Some of these are known as Means Tested Benefits and they include Income Support, Employment and Support Allowance, Jobseeker’s Allowance, Pension Credit, Housing Benefit and Council Tax Benefit. As the name Means [more...]

Mar
01
2010
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What’s the difference between a percentage, a percentage point, and a basis point?

percent-signThree terms—percentage, percentage point and basis point—are widely used in finance. Their meanings are different, and getting them mixed up can lead to an expensive mistake. A percentage is a way of expressing a ratio as parts per hundred. Five parts per hundred can be written as 20%. To convert any ratio to a percentage, [more...]

Dec
03
2009
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What is a financial spread?

About to lose his shirt? (photo by hikingartist.com - CC-BY)A “spread”, in finance, is a pair of prices—one for buying and one for selling. The most common type of financial spread is the bid-offer spread. The offer price is the price at which a broker or market maker will sell you shares (or some other financial instrument). The bid price is the price at [more...]

Apr
22
2009
1

What traditions are there on Budget Day?

Downing Street. Seems hard to believe now that members of the public could stroll through here. (photo by dAVIDb1 CC-BY)Once a year is Budget Day in the UK when the Chancellor of the Exchequer of behalf of the government attends the House of Commons and makes a speech to the Members of Parliament outlining a summary of the current economic situation and a more detailed account of how the government intends to raise money [more...]

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