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Financial, Financial Information, Financial Services, Insurance, Insurance Services, Money

Guide to Home Insurance Deductibles

When choosing a home insurance deductible, many homeowners fall into the trap of wanting to secure the lowest of the low homeowners insurance quotes. This is all good and well but if you make the mistake of making your home insurance deductible too high then you risk financial devastation should you ever have to file a claim.

According to an article recently published on InsuranceAgents.com, the key is to achieve a balance between your home insurance deductible and your homeowners insurance rates. The best way to find affordable policies, deductibles, and rates is to go online to compare homeowners insurance quotes.

The article, titled ‘Choosing Your Home Insurance Deductible’ states, “The higher the home insurance deductible, the more affordable your home insurance rates will be. However, the reverse is true as well: the lower your home insurance deductible is, the more expensive your premium will be,” informs the article. “Before assigning a home insurance deductible to your policy, you should first evaluate your budget.”

If you want to learn more about your home insurance deductible then don’t hesitate a second longer. Visit InsuranceAgents.com today to talk with an insurance agent about finding the right balance between your home insurance deductible and premium.

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Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

Report Says The Recession Will Have A Positive Impact On The Savings Habits Of Today’s Seven Year Olds

The Children’s Mutual’s ‘Turning Seven’ report has revealed that the recession will have a positive impact on the savings habits of today’s seven year olds. According to the leading Child Trust Fund provider, the current recession is developing a younger generation with a more responsible attitude towards money – the likes of which has not been seen since the end of the Second World War.

‘Turning Seven’, which delves into the financial attitudes of seven year olds and their parents, found that two thirds of parents polled insisted that their seven year old children were better informed about finances than they were at the same age. 47% also revealed their seven year olds have already saved up money for something specific, such as a computer game. The report highlights that the current generation of seven year olds will be much more pragmatic about money.

Two thirds of parents feel that their seven year olds now understand that money ‘does not grow on trees’ and are optimistic that the economic hardship currently being experienced is a positive for their children, with a third of parents believing it will make their child more astute and responsible with money. Indeed, 83% of UK parents now insist that their children ‘earn’ their pocket money.

David White, Chief Executive of The Children’s Mutual, said: “We are all acutely aware that the recession has put many people in difficult financial situations, but what is surprising is that there has been a positive impact through prompting reflection and encouraging a change in attitude and behaviour. We know that many families are feeling the squeeze, but encouragingly, our report demonstrates that parents and children are creating a ‘positive austerity’ and are using the downturn as an opportunity to educate their children about the value of money which ultimately could alter savings habits in the UK f r o m the ground up.”

The ‘Turning Seven’ report has been released today to coincide with the oldest members of the Child Trust Fund Generation turning seven, and as a result receiving an additional £250 top up payment f r o m the Government into their CTFs.

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives a £250 (£500 for low income families) Child Trust Fund voucher f r o m the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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Debts, Financial, Financial Management, Financial Services, Money, Personal Finance

Debt Recovery Specialist Red2Black Collections Limited Is Hoping To Maximise Recovery Rates For Its Prospective Clients By Launching An Innovative New Product To The Market

Debt recovery specialist Red2Black Collections Limited is hoping to maximise recovery rates for its prospective clients by launching an innovative new product to the market.

Red2Black Collections, which offers outsourced collections at every stage of the debt collection life cycle, has launched ‘Loss Prevention Plus’, a one-stop solution designed to make the debt collections process a quicker and easier process for many of its clients.

Nick Cherry, Director and General Manager of Red2Black Collections commented: “All customers will still have access to our full end-to-end service, but our new ‘Loss Prevention Plus’ product has been introduced as an off-the-shelf solution for clients, which combines as one offering the services which we receive the greatest demand for – early and late day collections, asset recovery and litigation.

“This tailored service has already proven to deliver results amongst our existing clients, emphasising how a seamless escalation through each of these important collections functions is a winning formula. In the current economic climate most creditors are facing increased volumes of impairment, increased roll rates and a change in demographic to their arrears portfolio. ‘Loss Prevention Plus’ provides the answer by maximising recovering performance.

“Most importantly, the product can be tailored to dovetail with the creditors’ own collections process to deliver and enhance performance.”

The launch of the new product follows a successful year for Red2Black Collections, who celebrated record growth this year, attracting an average of three new clients per month since its rebrand in early 2008.

The company has also recently become one of the first ever debt collection agencies in the UK to partner with the Samaritans to help train its workforce in becoming the industry’s most effective communicators.

Nick Cherry added: “By offering high quality solutions across the debt collection life cycle, our unique business model allows the client to choose one or all of our services to suit their needs and eliminates the need for them to maintain multiple servicer relationships, by providing one focal point for all client interaction.”

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Business, Financial, Financial Information, Financial Services, Investment, Money, SME

Commonwealth Capital Advisors Joins More Than 650 Organizations In The United States To Educate And Inspire The Next Generation Of Entrepreneurs Nov. 16 – 22

This November, young people around the globe will get together to change the world. To celebrate the vital role entrepreneurs play in innovation, job creation and economic recovery, Commonwealth Capital Advisors is participating in Global Entrepreneurship Week on Nov. 16 – 22, 2009 to inspire, connect, mentor and engage young people.

Commonwealth Capital Advisors, an 11 year old American investment banking advisory firm serving entrepreneurs worldwide, will give away 1 million e-books explaining to aspiring entrepreneurs how to raise enough capital to start a business. It is the only resource available online that shows Entrepreneurs the whole process so they can successfully get the capital they need without wasting time or money where others fail.

Co-founded in 2008 by the Ewing Marion Kauffman Foundation in the United States and Make Your Mark, a business-led government-backed campaign in the United Kingdom, Global Entrepreneurship Week will connect young people through local, national and global activities designed to help them explore their potential as self-starters and innovators. Students, educators, entrepreneurs, business leaders, employees, non-profit leaders, government officials and others will participate in a host of activities that include virtual and face-to-face events, large-scale competitions and intimate networking gatherings.

In 2009, the Week is estimated to exceed the 3 million people and 8,800 organizations around the globe that participated in the inaugural Global Entrepreneurship Week in 2008. Already, more than 650 organizations in more than 80 countries have signed up.

“Our primary purpose is to increase every entrepreneur’s probability of raising substantial amounts of capital to the highest degree possible at a mere fraction of the traditional cost without giving up any permanent equity or management control.” Timothy D. Hogan, Chairman & CEO, Commonwealth Capital Advisors.

“The world knows that entrepreneurship is the key to economic recovery, and the next generation of innovators holds that key,” said Carl Schramm, president and CEO of the Kauffman Foundation. “Now more than ever, we need to unleash the creativity and ingenuity of our youth by engaging them in the endless possibilities of entrepreneurship.”

Details

You can get started by reading the abridged version of the e-book “The Secrets of Wall Street – Raising Capital for Start-Up and Early Stage Companies” the most comprehensive guide to the world of raising capital. To download your personal copy, visit www.CommonwealthCapital.com and enter promotional code gew.

CCA has become the advocate for the entrepreneur by specializing in assisting start-up and early-stage companies raise seed, development and expansion capital through the issuance of securities. They have taken one of the most complex, arduous and expensive processes and reduced it to a simple, easy and inexpensive system. The amounts can range from $100,000 to $50 million for operating companies and up to $500 million for REITs, Film Production Companies, Oil & Gas projects or other Investment Funds. CCA has invested hundreds of thousands of dollars in the legal, accounting and investment banking work product, just to license it to its users and to enable them to have a shot at their dream.

About Global Entrepreneurship Week
With the goal to inspire young people to embrace innovation, imagination and creativity, Global Entrepreneurship Week will encourage youth to think big, turn their ideas into reality, and make their mark. From Nov. 16-22, 2009, millions of young people around the world will join a growing movement to generate new ideas and seek better ways of doing things. Tens of thousands of activities are being planned in dozens of countries. Global Entrepreneurship Week is founded by the Ewing Marion Kauffman Foundation and the Make Your Mark campaign. For more information, visit www.unleashingideas.org, and follow @unleashingideas on Twitter.

Kauffman Foundation
The Ewing Marion Kauffman Foundation is a private nonpartisan foundation that works to harness the power of entrepreneurship and innovation to grow economies and improve human welfare. Through its research and other initiatives, the Kauffman Foundation aims to open young people’s eyes to the possibility of entrepreneurship, promote entrepreneurship education, raise awareness of entrepreneurship-friendly policies, and find alternative pathways for the commercialization of new knowledge and technologies. It also works to prepare students to be innovators, entrepreneurs and skilled workers in the 21st century economy through initiatives designed to improve learning in math, engineering, science and technology. Founded by late entrepreneur and philanthropist Ewing Marion Kauffman, the Foundation is based in Kansas City, Mo. and has approximately $2 billion in assets. For more information, visit www.kauffman.org, and follow @kauffmanfdn on Twitter.

Make Your Mark
Make Your Mark is the campaign to give young people in the UK the confidence, skills and ambition to be enterprising – to have ideas and make them happen. Run by Enterprise Insight, which was founded by the four leading UK business membership organisations – the British Chambers of Commerce, the CBI, the Federation of Small Businesses and the Institute of Directors. Their Director-Generals sit on our board, which is chaired by entrepreneur Peter Jones, from BBC’s Dragon’s Den. It is supported by the Department for Business, Innovation and Skills and endorsed by the Prime Minister, Gordon Brown.

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Checking & Savings, Financial, Financial Information, Financial Services, IRA, Money, Personal Finance, Retirement

UK Workers In State Of Pension Inertia

New research f r o m Prudential shows that nearly a third (30%) of Britain’s 8.8 million active occupational pension scheme members pay no attention to how their retirement savings are invested and 29% – more than 2.5 million scheme members – have never reviewed how their chosen pension fund is performing.

The pension provider’s study also shows that 48% of workers aged 25+ have their money invested in the ‘default’ fund of their company pension scheme.

Pension savers are failing to take an active role in managing their assets to produce the best possible retirement income. Around 29% admit they have never reviewed the progress of their selected pension funds.

Prudential warns that workers who do not regularly review the progress of their pension fund to deliver asset growth, or simply select the default fund offered by their employer without studying any other options available to them or seeking advice, could then risk limiting the value of their pension pot at retirement.

Andy Brown, director of investment funds at Prudential, said: “It’s worrying that so many people who pay into a company pension scheme appear to be in this state of inertia and aren’t taking an active role in the management of their pension savings.

“You routinely check your savings, utilities, insurance cover, mobile phone contract and broadband arrangements to make sure you’re getting the best f r o m them, and checking the performance of your pension should be no different.”

Prudential urges workers who have not reviewed their pension investments, especially during the stock market turbulence of the past two years, to review them now as a priority to ensure they are correctly positioned to take advantage of any market upturn.

Many pension scheme members are doing virtually nothing to ensure their pension funds are invested in the best place to maximise growth and maintain the right balance to protect fund values in the last few years before retirement.

When it comes to paying more money into company pension schemes, Prudential’s research found that 37% of people with a defined contribution pension have either made Additional Voluntary Contributions to their pension fund or increased the amount they pay in.

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Banks, Bonds, Checking & Savings, Financial, Financial Information, Financial Services, Financial Statements, Investment, Money, Personal Finance

NS&I Finds The Luckiest Premium Bonds Regions

NS&I has released a list of the luckiest regions for winning Premium Bonds prizes showing that those firstly in the South West, and then in the East Midlands, win more Premium Bonds prizes of £1000 or more, than the rest of the UK. Ranking as third luckiest was Wales, while the North East of England emerged as the least lucky of all the regions.

Sally Swait, Premium Bonds manager at NS&I, commented: “Each month ERNIE randomly generates the winning Premium Bonds numbers from his home in Blackpool, where all eligible Bonds – regardless of their age – have an equal chance of winning.

“The last year has seen the South West region receive the greatest luck in having their numbers come up, though all other regions were not without their own significant wins. As the numbers are generated randomly each month, we may very well see a change in the rankings of the luckiest regions in the UK next year.”

NS&I also discovered that there are currently more than 599,000 unclaimed Premium Bonds prizes across the UK, worth over £35 million.

The good news is that there is no time limit for claiming prizes. Premium Bonds results can be found by using the Premium Bonds draw prize checker or writing in to NS&I.

Premium Bonds are an investment where, instead of interest payments, investors have the chance to win tax-free prizes. They were officially launched by Harold Macmillan, Chancellor of the Exchequer, in his 1956 budget.

At the end of June 2009, more than 23 million people had a total of over £40 billion invested in Premium Bonds. There are currently more than one million tax-free prizes from £25 to £1 million being won each month.

Calculations for the luckiest regions data is based on the total value of prizes (£1000 and more) won by counties with at least 100,000 Premium Bond holdings. Information is for the period July 2008 – June 2009.

The current Premium Bonds prize fund rate is 1.0% tax-free. The current odds of each £1 Bond number winning any prize are 36,000 to 1, so with average luck, an investor with £30,000 in Premium Bonds could win 10 tax-free prizes a year.

All Premium Bonds prizes are free of UK Income Tax and Capital Gains Tax!

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Business, Career, Financial, Financial Information, Financial Services, Insurance, Insurance Services

Health Initiatives Gaining Momentum With UK Firms, Report Says

PruHealth, private medical insurer, has revealed as part of its new Workplace Health Report into the impact of health and wellbeing measures and culture in the workplace, that 89% of larger firms in the UK and 33% of SMEs offer health incentives for their employees.

Senior executives (75% of larger firms and 55% of SMEs) believe fostering a healthy lifestyle in the workplace is part of their role as a responsible employer. Furthermore, 83% of employees stated that an employer’s attitudes to health and wellbeing are an important factor when looking for a new role, which means providing a health and wellbeing programme has never been more important to help attract and retain quality.

Firms also believe health initiatives can help increase staff morale, improve productivity and reduce absenteeism as a ‘halo’ effect of a healthier workforce. Additionally benefits of encouraging a healthy culture in the workplace are also evident, with 51% of larger firms and 38% of SMEs experiencing a drop in absenteeism since introducing wellbeing initiatives.

With sickness and absence costing UK plc £20 billion a year larger firms with over 250 employees are actively encouraging a healthier and happier workforce as part of their responsibility as employers. As well as introducing initiatives, 81% of senior management are leading by example and engaging in healthy behaviour in the workplace, like sponsoring employees’ charity fun runs (55%), taking part in exercise classes and sports teams at work (49%) or eating healthily in the office (35%).

With economies of scale proving a barrier for some companies, only 33% of SMEs offer health initiatives to staff. However, 47% of SME senior executives said they are setting a good example through healthy behavior and taking part in exercise classes and sports teams at work.

PruHealth’s Vitality incentive programme enables smaller companies to provide a full ‘blue-chip’ range of healthy activities for employees as part of their corporate private health insurance, enabling companies of all sizes to benefit from a healthier workforce.”

About PruHealth
PruHealth was launched in October 2004 as a joint venture between Prudential and Discovery Holdings from South Africa to provide private health insurance. Since launch, PruHealth has grown quickly. PruHealth medical insurance now covers over 190,000 lives and in a sample of its individual customers, one third said they had changed their behaviour for the better because of its Vitality reward scheme which encourages policyholders to look after their health.

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Banks, Checking & Savings, Credit Cards, Financial Services, Money, Personal Finance

M&S Money Has Announced That Its 10% Cashback Reward Offer To Customers Who Take Out A Personal Loan Is Being Extended Until 7th September 2009

The offer, which was originally due to end on 11th August, is now being made available to all customers who take out a personal loan for a repayment period of between 36 months up to seven years. This gives customers a refund of 10% of the interest they have paid once their final repayment has been made.

When the cashback reward is taken into account, the typical rate of 8.7% APR on a£10,000 loan over a 36 month period is equivalent to a rate 7.9% p.a.

Monthly repayment £319.48 total interest £1,501.28 total amount repayable£11,501.28. The cashback reward is not available on refinanced loans, loans repaid early or loans terminated by M&S Money.

The extended offer is also available with the M&S Car Buying Plan, which means that the cashback reward offer is likely to be of particular value customers who are considering buying a new vehicle at the start of September. The M&S Car Buying Plan also allows customers to defer a fixed percentage of their loan, as well as giving them several options at the end of the term. Customers can keep the car and carry on making monthly payments until the whole of the loan is repaid, keep the car and pay off the remainder of the loan with a lump sum or sell the car and use the money to pay off the remainder of the loan.

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Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Cost Of University For This Year’s Recent A-Level Graduates Could Be As High As £25 Billion – Almost £3 Billion More Than Last Year

The Children’s Mutual has reported the cost of university for this year’s recent A-level graduates could be as high as £25 billion – almost £3 billion more than last year. The Children’s Mutual warns that thousands of young adults celebrating their A-Level results and their parents may remain unaware of this rising cost.

The Cost Of University For This Year’s Recent A-Level Graduates Could Be As High As £25 Billion - Almost £3 Billion More Than Last Year

According to the leading Child Trust Fund provider, the average student needs to find about £42,000 to fund three years at university, but this doesn’t take into account the costs of any further training they might want to do after their degree. Currently 87% of young people in the UK are receiving financial help from their parents and help towards university costs is something many students expect and parents expect to give*. Increases in year-on-year university costs also mean this bill will rise in future years.

One way parents of future scholars can help mitigate the rising costs is by saving regularly from when their children are very small. The Child Trust Fund (CTF) was created by the Government to provide every eligible child with a nest egg when they turn 18, with parents, friends and family all encouraged to help save. Launched in 2002, more than 4.4 million children now have a CTF account. Topping up a child’s CTF on a monthly basis could result in a significant lump sum when the child turns 18, perfect for helping with university costs.

David White, Chief Executive of The Children’s Mutual, said: “University can be as much of a millstone as it is a milestone. While parents will be pleased about their children’s successes as they receive their A-level results and many look forward to university, the high costs involved can be a real financial strain to a huge number of students and their parents. For families planning to support their children through university, finding a lump sum to cover the costs can be very difficult. Often, parents are left with no other option but to dip into their savings or remortgage their house. This can have a serious impact on their own financial future.

“From 2020 all 18 year-olds will have access to their maturing Child Trust Funds as they enter adulthood and the money saved in these could make a real difference to both future university students and their parents.”

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Financial, Financial Services, Money, Personal Finance

Gold Recycling Service To Exchange Unwanted Jewellery For Cash

H.Samuel has announced the launch of its new Gold Recycling service. With over 140 years experience selling watches, jewellery and gifts, H.Samuel, is now offering consumers the opportunity to recycle their unwanted white, yellow and rose gold jewellery for cash through a reputable and secure retailer.

Gold Recycling Service To Exchange Unwanted Jewellery For Cash

The popular high street jeweller’s Gold Recycling scheme offers competitive rates for precious gold jewellery from 9 carat up to 22 carat, free postage and free valuations combined with the assurance of security. All jewellery sent to the Gold Recycling service is insured to the value of £500, unpacked in a secure area, valued by trained jewellers and there is no obligation on the customer to accept any offers made.

This means that consumers can send their necklaces, bracelets, chains, pendants, lockets, crosses, crucifixes, etc to H.Samuel, safe in the knowledge that they will be offered competitive prices and receive swift payment or their goods will be returned to them for free.

The service is simple and easy to use. Any customer looking to recycle their gold simply has to visit the website and then follow four easy steps.

Customers simply fill in their details and a Gold Recycling pack will be sent to them for free. Customers who don’t have an internet connection can call the Gold Recycling helpline on 0845 609 2000 to request a pack.

When a customer receives their Gold Recycling Pack, they just have to complete the enclosed form and place the gold into the protective packaging provided. The items are then posted using the prepaid special delivery envelope. Postage is free and the package is insured for up to £500.

H.Samuel will then contact the customer with a valuation by phone or email. The customer can then either accept or reject the offer. If the customer accepts the valuation, a cheque will be sent to them within a few days.

H.Samuel will buy gold in any condition, even if it is tangled, broken or has missing stones. This even applies to rings (not stone-set), earrings (singles or pairs), loose earring backs and body jewellery, cufflinks, tie pins etc, hallmarked and un-hallmarked gold, and gold which has been purchased abroad. There is no need for customers to clean or sort items before sending.

Gold Recycling at H.Samuel is perfect for consumers who want to exchange gold for cash with a trustworthy and secure service.

The new H Samuel Gold Recycling service is unfortunately unable to accept: gold plated jewellery, platinum, silver, stone set jewellery (eg. diamond rings), coins, bars, ingots, sovereigns and kruggerands, watches, new items or items that appear new (eg, price tagged) or dental gold.

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Banks, Checking & Savings, Financial, Financial Services, Loans, Money

MidCountry Bank Supports 2009 Effort To Save Eternal Flame At National WWI Museum

With the possibility that the National World War I Museum’s eternal flame could be extinguished due to government budget cuts, MidCountry Bank, through its military banking division, Pioneer Services, has stepped up for the second year in a row with a sizeable financial contribution to keep the flame burning atop the Liberty Memorial in Kansas City, Mo.

MidCountry Bank Supports 2009 Effort To Save Eternal Flame At National WWI Museum

“The eternal flame remains a symbol of our gratitude for those who made the ultimate sacrifice,” said Tom Holcom, president of Pioneer Services. “Since we work exclusively with the military community, we could not just sit back and let the flame be extinguished, especially after our organization’s successful efforts to save the flame last year,” said Holcom. “The WWI Museum is the only museum in America that preserves the legacy of those who served in the Great War and MidCountry Bank and Pioneer Services are committed to doing whatever we can to help ensure that legacy is honored.”

In 2008, budget cuts threatened to extinguish the eternal flame except on special holidays. At the time, MidCountry Bank and Pioneer Services initiated the “Save the Flame” campaign, an international awareness and fundraising effort that successfully raised more than $68,000 in just four weeks. The two organizations donated an initial $5,000 to keep the flame lit during the fundraising campaign from Memorial Day to July 4, 2008, contributing a total of $22,500 in matching funds to the widely-publicized campaign. The efforts were profiled in USA Today, Stars and Stripes, and through extensive broadcast coverage.

Since its dedication in 1926, the memorial has been a Kansas City and national monument, looking over the downtown skyline. The National World War I Museum, which opened in 2006, was built beneath the existing Liberty Memorial. It is designated by Congress as the nation’s official WWI Museum .

MidCountry Bank’s military banking division recently committed $5,000 to keep the WWI eternal flame burning through 2010. The companies continue to manage the campaign’s fundraising and awareness Web site, www.SaveTheFlame.org, promoting the need for continued assistance and to facilitate donations.

MidCountry Financial Corp. is a financial services holding company with subsidiaries that deliver high-quality and diversified financial services to targeted markets.

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Banks, Financial, Financial Services, Home Equity, Interest Rate, Loans, Money, Mortgage, Personal Finance

Tracker Rate Mortgages Gain In Popularity

So far this year, fixed rate mortgages have been by far the most popular choice of deal as borrowers have sought the security of a fixed rate during the recession.

Gain

However, August has seen an increase in interest for tracker rates which are linked directly to the Bank of England Rate. Earlier this month, the Bank of England announced it was keeping rates on hold at an all-time low of 0.5%. It then published its Quarterly Inflation Report and predicted that rates would remain at their record low for some time to come.

Richard Morea, Technical Manager at L&C said, “With signs that interest rates could remain at 0.5% into 2010, many borrowers are deciding that they are willing to take the risk of having a variable mortgage rate, in order to benefit from low interest rates. Tracker mortgages are not for everyone though – if you’re on a tight budget and are worried about being able to afford a rise in mortgage payments, then a fixed rate mortgage is still a good bet.”

London & Country (L&C) is the UK’s leading no-fee mortgage broker. Based in Bath, it provides whole of market advice via telephone and post to clients nationwide. As well as residential mortgages, it also specialises in the Buy-to-Let and adverse-credit sectors.

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Banks, Business, Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Financial Statements, Forex, Investment, Money, Profits, Trading

Saxo Bank, The Online Specialist In Trading And Investment, Maintains Profitability In First Half Of 2009

Saxo Bank, the online specialist in trading and investment, has reported its half year results showing that clients’ collateral deposits and assets under management in total exceeded DKK 25 billion and, in a very difficult year, profit before tax reached DKK 55 million.

Saxo Bank, The Online Specialist In Trading And Investment, Maintains Profitability In First Half Of 2009

Operating costs increased primarily due to new office openings, product launches, as well as contributions to the Danish State Guarantee Scheme and with unchanged income, profit before tax declined from the same period in 2008.

– Pre-tax profits of DKK 55 million (DKK 162 million).
– Operating income of DKK 969 million (DKK 969 million).
– EBITDA of DKK 128 million (DKK 221 million).
– Clients’ collateral deposits increased to more than DKK 11 billion (DKK 8 billion).
– Assets under management in the Asset Management department exceeded DKK 14 billion (DKK 0).
– The solvency ratio for Saxo Bank Group was 18.9% (10.1%).

In a joint statement, Saxo Bank co-CEOs and co-founders, Kim Fournais and Lars Seier Christensen, commented: “We did expect 2009 to be a difficult year. However, the results reassure us that we took the right decision when we chose to steer the Bank into a new phase based on a more flexible structure before the financial crisis took hold. We also find it encouraging that the Bank managed to strengthen and optimise its entire value chain, product offering and geographical footprint during what were six very challenging months for the financial markets as a whole. And, equally importantly is of course, that our new Asset Management department got off to a good start with DKK 14 billion in assets under management, a number that since has grown to DKK 16 billion”.

During the first half of 2009, Saxo Bank introduced a number of enhancements to its award-winning online trading platform, the most significant of which were related to Commodity CFD’s and FX options. In addition to a broader product offering, the Bank widened its geographical footprint and established its presence in Milan, Madrid and Prague, and acquired two Dutch broker houses and a Tokyo-based provider of FX services. In May, Saxo Bank became the first Danish bank to receive regulatory approval to operate a regional office in the Dubai International Financial Centre.

About Saxo Bank
Saxo Bank is an online trading and investment specialist, enabling Forex Trading for clients, CFDs, Stocks, Futures, Options and other derivatives, as well as providing portfolio management via SaxoWebTrader and SaxoTrader, the leading online trading platforms.

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Banks, Financial, Financial Services, Home Equity, Interest Rate, Loans, Money, Mortgage, Personal Finance

With The Bank Of England Rate Remaining At An All-Time Low Of 0.5% In August, Now Could Be A Good Time For Many Borrowers To Consider An Offset Mortgage

An offset mortgage works by using savings you have to reduce the amount you owe on your mortgage and therefore the amount of mortgage interest you pay. For example, if you have an outstanding mortgage of £120,000 and savings of £20,000, you would only pay interest on a mortgage of £100,000. You don’t receive interest on your savings, but that also means that you don’t pay tax on that interest.

This tax benefit, added to the fact that mortgage rates are typically higher than savings rates, means that you could save thousands of pounds in interest with an offset mortgage. Taking a mortgage rate of 3.99%, a basic rate taxpayer would need to earn at least 4.99% from a savings account to get the equivalent benefit. A higher rate taxpayer would need to earn 6.65%.

You could also cut years off your mortgage term by using the saving to make regular overpayments.

Richard Morea, Technical Manager at L&C said, “If you are frustrated with the low interest rates you are earning on your savings in the current market, then an offset mortgage is worth considering. They are not suitable for everyone, but if you have a decent amount of savings, offsetting them against your mortgage could save you thousands of pounds in interest.”

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Bankruptcy, Debts, Financial, Financial Law, Financial Services, Loans, Money, Personal Finance

The DebtBuster Corporation Recognized As Finalists In The Las Vegas Chamber Of Commerce Small Business Of The Year Competition

The DebtBuster Corporation (DebtBusters), the nations most trusted debt settlement firm, announced today that it has been recognized as one of three finalists in the Las Vegas Chamber of Commerce Small Business of the Year competition. Small Business of the Year, awarded as part of the LVCC Annual Biz-E‘s honors a for-profit venture with 50 or fewer employees, demonstrates commitment to community stewardship and is active in the business community of Southern Nevada. The final event, and announcement of the winner will take place at The Rio Hotel and Casino in Las Vegas, NV the afternoon of September 17th, 2009.

The DebtBuster Corporation

David Fishman, the owner of The DebtBuster Corporation, gladly accepts the recognition as a finalist on behalf of his employees. “This is a great honor”, said Mr. Fishman who is also known as Dr. Debt, “we really couldn’t have done this without our great staff and our dedication to excellent customer service. Our goal is to assist everyone that needs help with credit card debt, regardless of whether or not they become our client”. Mr. Fishman went on to say that people who need debt relief, don’t generally ask for it until it’s too late. “Bankruptcy alternatives are available for most people”, said Mr. Fishman, “if you know where to look”.

About The DebtBuster Corporation
Formed in 1998 as subsidiary of the 20 year old commercial debt settlement firm, Arbitronix INC, The DebtBuster Corporation was created to assist consumers by negotiating their unsecured debt directly with creditors, often saving consumers thousands of dollars in the process. Accredited by the Better Business Bureau in 2002, DebtBusters is one of the few debt settlement firms in the country which has achieved an A+ BBB rating. Their dedication to customer service is unparalleled and their motto, “No Obligations. Only Answers.”, shows their willingness to help anyone who calls the Dr. Debt national helpline at 1-800-464-DEBT, regardless of whether or not the caller becomes a DebtBusters Client.

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Research Shows Car Thieves Targeting Top End Motors

LV= has revealed that the average car theft claim has increased in value by almost 40% this year compared to 2008 and is warning owners of expensive cars that thieves may be more likely to target their vehicles.

Research Shows Car Thieves Targeting Top End Motors

Between January and May 2009, data f r o m insurer LV= shows that the average claim rose by 38% compared to the same period last year. Compared to figures f r o m two years ago there is an increase of 44%, indicating a trend that thieves are deliberately targeting cars with a higher value. The average insurance rating of cars being stolen has gone f r o m group 10 to group 20.

As well as seeking out higher value cars thieves are also looking at the age of the car. The average age of stolen vehicles has fallen f r o m ten to eight years old since 2004. However it isn’t all bad news for drivers as the overall number of cars being stolen dropped by 11% between 2007 and 2008.

John O’Roarke, managing director of LV= car insurance, said: “Over the last few years there had been a significant decline in the numbers of cars being stolen but a sharp increase in the value of cars being targeted by thieves. Cars have better security measures on them than ever before so many opportunist thieves simply don’t bother anymore. It would appear that the cars that are being stolen are specifically targeted by thieves who will often break into the owner’s property to steal the keys. Many of these cars are then exported to be sold overseas. Owners of top-end vehicles, like Porsches, BMWs and Jaguars need to be even more vigilant to keep their cars safe.”

“Our data indicates that motorists need to take extra care if they drive a car that maybe particularly attractive to thieves. Having an immobiliser or tracker device fitted, and ensuring the car is kept in a locked garage will not only keep your insurance premium down but will help towards keeping the car safe.”

The LV research also revealed that the three most likely UK cities for a car to be stolen f r o m are London, Manchester and Cardiff.

About LV=
LV= offers home and car insurance as well as pet and travel insurance direct to consumers by telephone f r o m its UK call centres in Bournemouth, Bristol and Croydon and online f r o m its website.

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NS&I Report Reveals Future Families Founded On Fortune

The new National Savings and Investments (NS&I) commissioned report, ‘Families, Finance and the Future’, suggests the existence of a new institution of British life – the ‘Financial Family’ – a collaborative unit of close friends and family marked by financial interdependence. It does not simply show a steady flow of cash down the generations, or the ‘sandwich generation’ arrangement observed in recent years, but also shows flows of money and advice, up and down the generations as well as between siblings.

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The costs of living and care for the elderly are recognised as rising, and the report suggests that the traditional family unit is shifting – yet family ties will be stronger than ever, and people will rely much more on financial networks. By 2029, there will be more cohabiting couples, and more single-person households than married couples living together** – so the Financial Family will be important even after the traditional family has declined.

According to the new survey research, the majority of people felt financially responsible for family members (54%), while 70% stated that current economic trouble meant families needed to support each other (70%).

Young people are more engaged with the Financial Family, with 50% of 16-24s identified as members of a Financial Family, compared to 30% of 25-34s and 20% of 35-44s. As this generation grows up, the Financial Family will become more and more widespread.

Technology will also mean that people are better equipped to share financial advice – but will also make it more important they do so. As the amount of information that tries to reach consumers increases, people will rely on the insights of their financial network to process this mass of information. This network is likely to revolve around the family as most people feel comfortable discussing financial matters (55%) with close friends and family, or sharing financial tips and advice (60%).

Barry Clark, Associate Director at the Future Foundation said: “We feel we’ve revealed a new way for people to look at British family life – and one that will become increasingly common. When we look at several demographic trends, like the rise of single-person households, the advance of technology and young people’s involvement in financial matters, we can expect the Financial Family to be a very important feature in the future. The Financial Family is here to stay.”

Tim Mack, Savings Spokesman at NS&I, said: “We started from an intuitive feeling that discussing money isn’t taboo any more, but the results far exceeded our expectations. The research shows that the discussion of finances, and our relationship with money, extends beyond the traditional family.”

About NS&I
NS&I is one of the largest UK investments and savings organisations, offering a range of savings accounts and investments products, including fixed rate savings bonds, fixed term investments, Premium Bonds, savings certificates, and ISAs to almost 27 million customers. Established in 1861.

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