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Financial Services

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

Credit Conditions And Debt Consolidation Options

Commenting on the Q3 2009 Credit Conditions Survey from the Bank of England, Debt Advisers Direct noted that the ongoing credit crunch was still restricting access to credit – and therefore to the debt consolidation loans that could help many people stay in better control of their finances. Nonetheless, the debt specialists stressed that there were other debt solutions available, and that borrowers struggling to clear their debts should talk to an expert adviser and explore their options.

“The latest Credit Conditions Survey revealed that UK lenders, on average, anticipate further reductions in unsecured credit over the final quarter of 2009,” said a spokesperson for Debt Advisers Direct.

“As for secured credit, they expect ‘some increase’ in overall credit availability over the next three months – so they clearly don’t anticipate any changes that would really alter the state of the market at the moment.

“For many of the people currently ‘juggling’ multiple debts, this is a pity, as it means they can’t access the debt consolidation loan that could simplify their finances and reduce the monthly cost of servicing their debt.

“Equally important, debt consolidation loans can help people make their payments on time, avoiding the charges, legal problems and damage to their credit rating that can come with making payments late (or not at all). This isn’t ‘just’ because a debt consolidation loan can reduce the actual size of monthly payments. It can also make those payments far easier to organise and – perhaps more important – budget for, on a monthly basis.”

Even so, a debt consolidation loan is by no means the only approach to debt. In many cases, it’s not even the most appropriate one – people whose debts have become truly unmanageable should not even attempt to consolidate them with a loan, as this would be unlikely to make enough of a difference to their finances.

People who’ve lost control of their debts should discuss their situation with a professional debt adviser, who can take them through their alternatives and make sure they understand the pros and cons of every potential approach.

“For some,” the Debt Advisers Direct spokesperson continued, “a debt management plan can be the best way forward. It’s an informal (not legally binding) agreement with their unsecured lenders, often arranged by a professional debt management company. The aim is to reduce the individual’s monthly repayments to a level they can afford – once they’ve taken their essential expenditure into account – giving them an affordable, realistic way to clear their unsecured debts without ‘eating into’ the funds they need to stay on top of their mortgage/rent, utility bills, food bills, etc.

Via EPR Network
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Debt Advice Could Help Relieve Money Anxiety

Responding to a survey which found that two thirds of 18-24-year-olds frequently feel stressed or anxious – with money worries being cited as a main cause – insolvency specialists the IVA Advisory Centre said that anyone feeling anxious about their money problems should seek financial advice.

The company added that anyone facing debt problems should speak with an expert debt adviser about ways of clearing their debts.

A survey carried out by YouGov found that 66% of people in the 18-24 age group felt stressed or anxious at least once a week, with money and job concerns cited as the main cause.

Over all age groups, 45% of respondents reported money worries as a main cause of anxiety, with 33% saying the same about their job prospects.

Some said they would seek support from friends or family in this situation, but almost a third (31%) said they kept their worries to themselves.

The survey is by no means the first to link money worries with anxiety. Earlier this year, the London Health Forum estimated that 250,000 Londoners suffer from mental health problems as a result of debt, at a cost of £450m a year to the NHS.

A spokesperson for the IVA Advisory Centre said that anyone feeling anxious due to money problems should seek advice on ways to improve their finances as soon as they can.

The spokesperson added that if financial difficulty leads to debt, the borrower should not hesitate to get debt advice at the first sign of problems.

“Being in debt can be an extremely worrying situation, so it’s no wonder that this has contributed to a lot of worry and anxiety.

“For many people, part of the worry is that they feel like there is no way out. However, there is a lot an expert debt adviser can do to help people in debt, even if the borrower can’t see any way of ever repaying the debt in full.

“In some cases, a few words of advice might be all it takes. Some people find that they can make more room for their debt repayments by keeping to a strict budget, while others might be able to find areas in which they can cut back and reduce their outgoings.

“Of course, not everyone’s problems are as easily solved as that. For people who simply can’t afford to repay their debts, a debt adviser may be able to recommend a debt solution that could help them to reduce their debt repayments to a manageable level.

“For people who can’t afford their existing repayments but can afford to repay the debt in full over a longer period of time, a debt management plan could help. Or, for people who can’t see any way of ever repaying their debts, an IVA could help them to avoid bankruptcy and its potential downsides, such as the repossession of their home.

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The Relationship Between Dog Bites And Homeowners Insurance

All dog owners like to think that their little ball of fur and love is nothing but. Unfortunately, that is not always the case and any dog owner who is also a homeowner would be wise to make sure they have enough liability coverage on their policy as well as coverage for any or all dogs they own specifically listed in their policy.

According to an article recently published on InsuranceAgents.com, dog bites account for 30 percent of all liability claims on homeowners insurance policies. Although listing dogs with aggressive reputations can raise homeowners insurance premiums, not listing these dogs could result in financial disaster if the dog bites someone. Lawsuits and medical bills are bound to pile up and that is why adequate liability coverage is necessary.

“The last thing any dog owner, or homeowner, wants is to have to file a homeowners insurance claim as a result of a dog bite,” according to the article, ‘Dog Bites and Homeowners Insurance Claims.’ “Be careful and use common sense if you have a dog and have company over. If the dog is prone to aggressive behavior then isolate him or her from your guests. Accidents happen, yes, but can be avoided if you take the right precautions.”

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Lloyds TSB is Hitwise UK Online Performance Award Winner

Lloyds TSB has been named the number one website in the Business and Finance – Banks and Financial Institutions category for January – June 2009 in the latest Hitwise UK Online Performance Awards program. The annual Hitwise UK Online Performance Awards recognise excellence in online performance through public popularity, awarding websites in more than 50 key industries online.

This year is the fifth Hitwise Annual Awards and Lloyds TSB has been awarded number one every year since the awards began.

In addition to the Internet Banking top spot, online.lloydstsb.co.uk was also awarded a Hitwise Top 10 Online Performance Award for January – June 2009, ranking number two based on market share of visits among all UK websites in the Hitwise Business and Finance – Banks and Financial Institutions industry.

Results of the Hitwise UK Online Performance Awards are based on the Internet usage of more than 8 million UK Internet users with winners receiving the greatest market share of UK visits throughout the first half of 2009 in their online industry.

Jason Bacon, head of Digital Marketing for Lloyds Banking Group which includes Lloyds TSB said: “The Internet has fast become one of the most popular ways for customers to get information about financial services and to do their banking. Over the years we made sure that our online services evolve to meet customers’ needs and as a result we’ve seen both our website and our internet banking service grow in popularity. This award is a fantastic recognition of that.”

Daniel King, General Manager of Hitwise UK said, “With the dynamics of online marketing continually evolving, the online success of LloydsTSB during 2009 is an incredible achievement. Receiving a Hitwise UK Online Performance Award acknowledges that Lloyds TSB is amongst the most popular websites visited by UK Internet users, signifying the strength of their online marketing”.

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New Forex Strategy To Strengthen Portfolios And Reduce Volatility

Trading Floor has unveiled a new Forex Portfolio Model created by Saxo Bank’s strategy team. The Portfolio model offers a way to reduce total portfolio volatility in the wake of the stock market rally that saw many investors turn away from Forex trading.

“Many investors are staying out of the Forex market – either because they lost money and have given up, or because they simply don’t know where to put their money,” said David Karsbøl, Chief Economist at Saxo Bank and Trading Floor commentator. “The Saxo Bank Forex Portfolio Model is a way of re-activating this idle money by applying them in a low-cost and relatively low risk fashion.”

The portfolio model is based on the Saxo Bank Fundamental Indices that measure the underlying economic strength (contraction or expansion) of 10 currencies: NZD, AUD, CAD, JPY, EUR, GBP, USD, CHF, SEK, and NOK. This should give a theoretical 45 possible currency crosses, but the model subtracts the12 most illiquid and expensive to trade and looks at 33.

The allocation signals are generated by the spreads in the fundamental indices and the idea is to always allocate more capital to the currencies with a relatively strong economic activity (and positive rate outlook) and fund the positions by going short on the currencies with weak economic activity (weak rate outlook).

The model allocates capital after changes in the spreads between the fundamental indices. For example, if the Eurozone Fundamental Index suddenly drops relative to the US Fundamental Index, the model (everything else being equal) would reduce exposure to EURUSD. Additionally, positions are scaled up or down according to the volatility of the currency crosses in question so that the expected risk-adjusted return for positions in EURCHF is the same as for positions in EURCAD.

“The model is always well diversified and is always in the market,” said David Karsbøl. “It is therefore not exposed to timing issues.”

The model doesn’t use stops, since the overall volatility of returns tends to be low (especially on single leverage). One particularly interesting feature is that returns tend to be almost completely uncorrelated to returns in stock markets (correlation = 0.1) and other risky asset classes (correlation to the CRB Index is 0.11).

In back testing since 1991, the model has produced annual returns of 5.34% using single leverage, 10.58% using double leverage and 15.67% with triple leverage.

“Therefore, if the back-testing is indicative of future returns, it would make a lot of sense to use part of one’s portfolio to allocate to the FX Model and thereby decreasing overall portfolio volatility without lowering returns too much or at all, depending on the leverage used.”

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Saxo Banque Wins Banking Innovation Award 2009

Saxo Banque, the French division of the online trading and investment specialist Saxo Bank, has been awarded the “Prix de l’Innovation 2009” (Banking Innovation Award), by the Investment Forum for its TradeMaker service. The innovative and free-of-charge service enables the bank’s customers to translate an idea into an order, to be kept informed of opportunities, and to compare results from trading ideas proposed by analysts.

The Award ceremony took place on 10th October at the Palais des Congrès, in Paris. Each year, a panel composed of financial journalists and editors from publications including La Tribune, Le Revenu and Investir are convened by the Forum’s organizers to present the innovation award. In the category of ‘Informed Investors’, the panel awarded the 2009 prize to Saxo Bank’s new TradeMaker facility.

TradeMaker was developed in response to two of the obstacles facing both futures traders and more general investors. Firstly, TradeMaker addresses the feelings of confusion that often arise from an overwhelming abundance of information. Secondly, TradeMaker facilitates the application of this information, allowing the investor to employ the resultant data in their trading.

TradeMaker publishes the results of proposed trading ideas. Customers can subsequently choose the issuer with the best performance for a given product. TradeMaker then uses text and graphics to explain trading ideas before pre-completing order forms which include such considerations as Stops and Limits. Relevant trade data, which is not always easy to assimilate, is translated into an order by the issuer. The customer need simply choose the value of his or her investment before validating the order with a click of the mouse. Advice, Trading Assistance and Transparency are the three major advantages of the TradeMaker tool.

Pierre-Antoine Dusoulier, CEO of Saxo Banque, declared: “It is a real honour for Saxo Banque to win an award such as this. It is reward in particular for our engineers who work hard all year on the development of new services to grow the platform and deliver increasingly innovative solutions to our customers. Saxo Banque is an independent bank, we create our own products by way of a dedicated technology research unit.”

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Education Loan Source Announce Partnership with the Delaware Credit Union League

Education Loan Source, Inc. (ELS) a leading provider of education financial solutions is proud to announce its partnership with the Delaware Credit Union League to provide education loan programs to their member credit unions.

“The Delaware Credit Union League is excited to recommend Education Loan Source programs to our member credit unions for student loan services,” says Jane Bailey, Executive Vice President of the Delaware Credit Union League. “Credit Unions are taking a larger role in helping students and their families obtain the financing they need to attend college. The Delaware Credit Union League is looking forward to offering our member credit unions student loan solutions that can be customized while meeting each individual credit union’s goals.”

Education Loan Source® is committed to offering private education loan options and other financing alternatives uniquely designed for its clients. The Custom Loan SourceSM Program allows credit unions to develop their own customized student loan offering without the need for additional staff or resources and is completely supported by ELS and its affiliates. “This program offers credit unions a great way to provide a student loan product to their existing members, while attracting new members at the same time,” said Tracy Sniscak, Senior Vice President of Business Development. “Credit unions are stepping in to help finance education at a time when traditional lenders are backing away due to the current financial markets. I’m excited for the opportunity to work with the Delaware Credit Union League and their member credit unions to help them better understand the student loan industry and provide student loan solutions to their members.”

“We are extremely pleased that Delaware Credit Union League has recognized ELS as a business partner and recommends our services to their credit union members,” stated Douglas Feist, Chief Executive Officer of Education Loan Source, Inc. “ELS currently serves many clients in multiple states providing education financial solutions and is looking forward to working with the Delaware Credit Union League.”

For more information on the Custom Loan SourceSM Program, go to (www.educationloansource.com) or call Tracy Sniscak at (717) 385-3483.

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Brits Will Spend More Than £1.7billion On Cat And Dog Food This Year

M&S Money has reported that Brits will spend more than £1.7billion on cat and dog food this year, and now the insurance provider is giving pet owners a chance to win a years’ supply of pet food.

Anyone who takes out or renews an M&S Pet Insurance policy before December 31st 2009 will be entered into a prize draw. There will be six prizes of Royal Canin dry pet food for one cat or one dog for one calendar year.

Last year £1.7billion (Estimated cost according to Mintel Report Pet Food and Pet Care Retailing, Retail Intelligence, October 2008) was spent on feeding the nation’s 14.5 million cats and dogs.

Consumers are becoming more concerned about what they feed their pets. A recent survey found that 90% of pet owners know that what they feed their pet affects is
health and therefore they want to feed their pets the best-quality food. High-quality premium foods are therefore a growing market sector.

Pet owners who want to keep their cats and dogs on a healthy diet but still keep costs down are increasingly turning to online pet stores. Bestpet, an online pet pharmacy and shop, has seen a 30% increase in sales of premium cat and dog food in the past year. The site sells pet medication and food costing up to 50% less than prices found at veterinary surgeries.

Charles Sweeney of Bestpet Pharmacy said: “Obesity is an increasing problem among cats and dogs. Pets that carry too much weight can suffer from heart complaints, diabetes and arthritis.

“Responsible pet owners who ensure their cats and dogs have a healthy diet and regular exercise can help reduce expensive vet bills in the future.”

M&S Pet Insurance policyholders can benefit from reduced pet food costs with a 5% discount from Bestpet.co.uk.

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Research Finds Brits Seriously Undervalue Their Wardrobe

New research from home insurer LV= reveals many people are seriously underestimating the value of their clothes, shoes and bags when calculating their home contents insurance. The research shows that on average people estimate their clothes are worth around £1600 with accessories such as dress jewellery and watches valued at a further £1,300. However experts at LV= estimate the true average cost of a wardrobe to be over double this at £6000.

Omnibus research was carried out by Opinium on behalf of the home insurer LV=. 2004 online interviews were carried out between 11-15 September 2009.

LV= home contents insurance experts estimate that the average women’s wardrobe is worth around £7,000, with clothes adding up to £5000 and accessories, including items of jewellery worth less than £1500 each, adding another £2000. Men’s wardrobes are estimated to be worth slightly less at £5000 but are more likely to include expensive business and sports attire.

With levels of ‘wardrobe’ underinsurance so high, LV= is warning Brits to ensure they consider how much it would cost to replace all their clothes, shoes and accessories in the event of their property being flooded or hit by a fire.

Emma Holyer, spokesperson for LV= home insurance, commented: “The majority of homeowners have contents insurance but we estimate the levels of ‘wardrobe’ underinsurance to be around 70%. When valuing their contents people just tend to think about expensive jewellery, electronics and items of furniture such as sofas, beds and dining tables and forget how much it would cost to replace their clothing, shoes and everyday jewellery should the worse happen.

“Although it’s a relatively small percentage of claims where we see an entire wardrobe’s contents destroyed if you are underinsured you could find that your insurer will reduce the amount they pay out to reflect the cover taken out.”

As well as home insurance cover not fully covering attire in the home, under half (42%) of contents polices sold include personal possessions insurance. Personal possessions cover insures belongings that are regularly taken out of the home, such as bags, ipods, laptops and clothing against theft, damage or loss.

Via EPR Network
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NS&I Unveils The First Live Vegetable Plot At BBC Good Food Shows

NS&I (National Savings and Investments), one of the UK’s largest savings organisations, is delighted to be working with Matthew Biggs to encourage ‘growing your own’ at this year’s BBC Good Food Show events.

Visitors to this year’s events in Glasgow (SECC, 30 October – 1 November), London (Olympia, 13 – 15 November) and Birmingham (NEC, 25 – 29 November) are encouraged to stop by the ‘Grow Your Own Food with NS&I’ vegetable plot. The plot will be tended to by Gardeners’ Question Time expert Matthew Biggs, who will be on hand to offer visitors helpful hints and tips on growing fruit and vegetables.

Matthew Biggs commented: “I am delighted to be working on the ‘Grow Your Own Food with NS&I’ feature. I’m looking forward to speaking to visitors at this year’s events, offering advice on how they can make the most of growing their own fruit and veg.”

He added: “Growing your own is the perfect way to cut down your shopping bill, as a bumper crop of ingredients such as tomatoes or rocket, can be grown easily for the small cost of a packet of seeds. It’s also fun for the family and a great way to enjoy fresh food with the finest flavour long after you’ve planted the first seed.”

About NS&I
NS&I is one of the UK’s largest savings accounts providers with almost 27 million customers and over £96 billion invested. It is best known for premium bonds, but also offers a Direct ISA, guaranteed growth bonds, guaranteed equity bonds and Children’s Bonus Bonds in its range. All products offer 100% security, because NS&I is backed by HM Treasury.

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Tips to Save Money on Life Insurance

The very word, life insurance, is self explanatory. “Our prime objective is to safeguard our lives and that of our family, by making a financial provision for them following our death”, founder of Insure4USA.com stated. Of all the various kinds of insurance in the market, life insurance is the most important. The benefits that you can derive are worth every penny you invest. Insurance industries compete with each other for a niche in the market and offer a variety of discounts. Like any other insurance, you need to pay a premium on life insurance too. You also have to meet various financial commitments and therefore need to set aside enough money to meet all these obligations. However, with a little bit of effort you can save money on your life insurance premium. The good news is that premiums have dropped over the past decade, and are expected to drop even further.

A new Insure4USA.com article offers following these tips that will help you to save on life insurance:

Calculate the long term needs of your family

Prior to purchasing life insurance, you need to have an idea of how much it would cost to cover all the expenses of your spouse until retirement, and children until their adulthood. There are plenty of online calculators available to help you figure out your needs. Once you have an idea about how much you need, choosing the appropriate life insurance will be much easier. You don’t need to spend too much on a premium that is not required.

Shop online for quotes

Most insurance companies offer online quotes. The idea is to get as many quotes as possible and shortlist a few that fit within your budget. There is a competitive market out there so make the most of it. However, don’t just settle for the lowest premium, since the credibility of the insurance company is as important.

Term-life vs. cash life

Term life coves the risk of death during a year, and is a temporary insurance. In effect, term life insurance does not have any cash value. Nominees will receive the insured amount in case of death of the policy holder during the year. This is ideal for the average person, where coverage diminishes, as you get closer to retirement. Cash value policies on the other hand are more geared towards wealthy individuals. Therefore, in order to save money a term-life policy is a better option.

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Barclaycard Advises Customers To Use Mybarclaycard Following UK Postal Strike Fears

Barclaycard is advising its customers to manage their accounts online with its new online account management, mybarclaycard, following the announcement of a possible national postal strike in October.

The new mybarclaycard service offers Barclaycard customers a variety of secure online payment options, including one off payments and the setting up of regular direct debits so customers do not have to worry about missing a payment deadline.

mybarclaycard is simple to use and gives customers more control over their accounts as they can choose how to view their account information and spending online. Customers will also be able to view statements online, request a balance transfer, query or dispute a transaction and request a new credit limit quickly and securely.

To avoid the impact of prolonged postal problems Barclaycard customers can register online using a simple registration process which offers customers instant access to their account so there is no need to wait for login details to come through the post.

Amer Sajed, Chief Executive Barclaycard UK, said: “We want to make our customers’ lives as easy as possible and by managing their account online, customers can take control.

“Managing an account online with mybarclaycard will avoid the impact of issues such as postal strike action. If customers do not have access to internet facilities, they can make a payment over the phone.”

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Video Content From Saxo Bank’s Team Of Experts Added to Trading Floor Blog

Trading Floor, the forex, equity and commodities blog written and run by Saxo Bank’s strategy team, is now adding regular video comments throughout the European trading session.

The comments on macroeconomic indicators, financial issues and earnings releases will complement the Daily Trading Stance video released every morning and the weekly forex options and equity update released every Friday.

Videos are recorded in the studio on the Saxo Bank trading floor, minutes after the news is released. Saxo Bank’s chief economist, David Karsbol, said: “The advantage of video is that it fills in the gap between reporting the headlines and the more detailed research notes we publish.

He added: “We comment on macroeconomic indicators or earnings or central bank decisions in a way that is fast, but also allows us to give more detail in a way that allows our blog visitors to get to know us a little better.”

Trading Floor has been running since May 2009 and features expert commentary starting every morning with The Daily Trading Stance that Saxo Bank’s strategists distribute to clients giving a rundown of the main themes of the day in FX, equities, FX options and commodities.

The commentary is prepared by David Karsbøl, Equity Strategist Christian Tegllund Blaabjerg and forex expert John Hardy. Commodities expertise is provided by Ole S Hansen and Alan Plaughmann. Also commenting are Market Strategist Mads Koefoed and Research Analyst Robin Bagger-Sjöbäck.

The Daily Trading Stance, daily commentaries and Weekly Forex and Equities Update are available on the Trading Floor web site and on Trading Floor’s dedicated YouTube channel.

About Trading Floor:
Trading Floor is run by Saxo Bank – a global investment bank specialising in online trading and investment across the international financial markets. Trading Floor provides up to date forex news and market place analysis.

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National Savings And Investments Is Increasing The ISA Allowance On Both Its Direct ISA And Cash ISA For Its Over 50s Customers

The revised allowance will come into effect from 6 October 2009. This change will enable existing Direct ISA and Cash ISA customers who will be 50 years or over on the 5 April 2010 to deposit up to £5100 into their ISA in the current tax year. From 6 April 2010 more than 400,000 of NS&I’s Direct ISA and more than 231,000 Cash ISA savers will be eligible for the higher allowance.

These changes reflect the Chancellor’s announcement in his 2009 Budget which stated that cash ISA customers aged 50 years or over should have an increase to their tax-free ISA allowance, increasing the maximum investment from £3600 to £5100 from 6 October.

The interest rate paid on NS&I’s Direct ISA is currently 2.50%, and 0.5% per annum on its Cash ISA.  John Prout, Director of Customer Sales and Retention at NS&I, said: “We have contacted the 365,000 of our ISA customers who will be 50 years or over on the 5 April 2010 to let them know that they can make use of their higher allowance from 6 October. They can do this by calling NS&I on our new freephone number, 0500 007 007.

At NS&I we pride ourselves on being straightforward in both our communications and our savings bond range. We urge all of our eligible ISA customers to take full advantage of the increased allowance available to them.”

NS&I has changed its general enquiries number. Customers will now need to call the freephone number 0500 007 007 to contact NS&I directly. The former chargeable enquiries number, 0845 964 5000, will continue to operate but customers may incur a charge from their provider. NS&I’s sales line will continue to operate through 0500 500 000.

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Positive Economy Growth For Late 2009 Predicted by Trading Floor Expert

Trading Floor columnist and Saxo Bank chief economist David Karsbol says the American economy will return to positive GDP growth in the second half of 2009; however, the reliance of the recovery on government spending and inventory re-stocking may mean the growth is not sustainable.

Karsbol says consumer deleveraging will continue and demand will remain subdued. US unemployment will continue to rise over the coming months, further hindering debt repayments and consumption.

Saxo Bank’s fourth quarterly financial outlook for 2009 is available for download on the Trading Floor site, which has been running since May 2009. Trading Floor gives daily and quarterly outlook and trading analysis of Forex, Equities, FX options, CFD trading, and commodities.

The Saxo Bank quarterly report is put together by the bank’s strategy team of chief economist David Karsbol, chief equity strategist Christian Blaabjerg, consulting FX strategist John Hardy and market strategist Mads Koefoed.

The quarterly outlook predicts that monetary stimuli and government deficits are likely to continue, leading to a ‘Japanisation’ of financial markets – higher price-to-earnings ratios and lower yields on both corporate bonds and treasuries.

Karsbol added: “Because Western economies are more flexible and able to embrace the necessary changes, we do not think that things will get as bad as was the case in Japan.

“However, it is increasingly evident that the current scenario in the West bears a close resemblance to post-1990 Japan, and it looks progressively like we have entered a new regime in which everyone assumes that large companies will be bailed out. This means that default risk is ‘priced out’, and we see higher price-to-earnings ratios and lower yields on fixed income.”

With maximum stimulus in the rear view mirror and austerity and exit strategies increasingly on the menu, Forex trading as a whole may begin to shift away from the rosier recovery projection that is already priced in. This could likely mean the exhaustion of many of the trends that are currently in place in FX, where so many trades are aligned along the ubiquitous risk appetite axis.

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Ruling Out Stock Market Investment Hits Long-Term Returns

Prudential has recently released new research that shows that one in four investors have ruled out a return to stock market investment in fear of losing money.

Around one in four potential investors – equivalent to 11.9 million people – are ruling out equity investments because of a lack of confidence in the stock market or because they don’t want to lose more money.

The FTSE-100’s 43 per cent surge from its low-point of 3,512.1 on March 3rd 2009 to more than 5,000 now has yet to convince millions of investors to return to stock market investing, Prudential believes.

But the retirement and savings giant warns that by ruling out stock market investments now, those people who can afford to save are potentially missing out on long-term gains delivered by the historically strong performance of shares.

The research shows 1.9 million – around 4 per cent of the population – have been put off investing more because of recent losses while approximately 12 per cent say they have no confidence in the stock market over the next 12 months and around another eight per cent say they have no confidence at all in the stock market.

Trevor Cheal, Retirement Savings Business Director for Prudential said: “The saying that it is not timing the markets but time in the markets that matters could never be more apt. Investors often act irrationally and driven by fear they sit out the markets as they begin to recover, missing out on some potentially spectacular gains.”

Prudential research shows that 32 per cent of those who do not intend investing in the stock market would be convinced to do so if they could be guaranteed they would not lose money, while 13 per cent say they will invest if the market shows strong signs of recovery. Another 6 per cent would do so if they had access to expert advice on where to invest.

However 25 per cent of those who reject stock market investments say there is nothing that could convince them to return to the stock market.

There are investors willing to buy however, with 9 per cent of the population – 4.3 million people – planning to invest directly in shares with another 11 per cent – 5.2 million people – planning to buy unit trusts or an ISA.

But direct equity investment is not the only option as Prudential’s Trevor Cheal, points out: “It is understandable that in volatile markets, investors may not want all their eggs in one basket and multi-asset funds which provide diversification can give them some degree of comfort while still giving the investor exposure to the stock market. Those who feel they lack the knowledge to manage a diversified portfolio should consider getting professional financial advice from a stockbroker or an IFA.”

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Prudential Reports Strife Begins At 40 For Pensions Late Starters

Prudential has revealed that workers who don’t pay a penny into a pension until they reach the age of 40 may need to set aside upwards of 33 per cent of their salary until age 65 if they want to retire on the holy grail pension of two-thirds annual salary.

But for someone starting their pension at 30 the amount drops to 20.5 per cent of salary and at age 18 it falls to 12.9 per cent – just over a third of the amount a 40-year-old would be required to pay into a pension for the first time.

Based on the current average salary of £26,020 a 40-year-old worker starting their pension plan today and aiming to retire at 65 would need to put aside the equivalent of £728.06 a month, or £23.94 a day, from combined employee and employer contributions.

A 30-year-old worker’s pension savings would need to total £443.59 a month or£14.58 a day, while an 18-year-old starting work today would need to save an amount equivalent to £9.19 into a pension every day of their life until the age of 65 in order to achieve the optimum pension of two-thirds the current average annual salary of £26,020.

Martyn Bogira, Prudential’s Director of Defined Contribution Solutions, said: “The findings show very clearly that anyone earning an income should try to begin putting money into a pension fund as soon as possible as the cost of delay is considerable; for someone aged 40 who’s contributing to a pension for the first time, the optimum pension contributions are three times higher than for someone aged 18.

“Understandably, making payments into a pension at age 18 may be a struggle and seem insignificant but even the smallest of contributions has the potential to make a massive difference. Arguably, the simplest and most beneficial way to do this is to pay into an employer’s defined contribution scheme and take advantage of any contributions an employer will also make to help make up the optimum amount needed to retire on two-thirds salary.”

Via EPR Network
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LV= Is Inviting Its Members, Customers And Website Visitors To Share Photos Of What They Love In Life

LV=, insurance, pensions and investment group is inviting its members, customers and website visitors to share photos of what they love in life, and be in with the chance of winning £1,500.

The competition’s theme ties in with LV=’s overall aim as a financial solutions and insurance provider, to help people look after the things that they love in life.

The photo could be of a family member or friend, a pet, or a treasured possession like a car or house, even a place they love to go on holiday.

The online photo competition judges aren’t looking for an ‘expert’ photo, but a picture that captures something that the entrant really cares for, in the most original, visually appealing and self-explanatory way.

Details of the competition have already been emailed to a large number of LV=’s customers and to competition websites, and already some excellent entries have been received and loaded up to view. And even if entrants don’t win the first prize of£1,500, there are three runners-up prizes of £250 to be had.

To take part in the competition entrants will need to register themselves as a member of the LV= online community, and then it’s simply a case of loading up their photos. The closing date is 31 October 2009.

Alan Lay, LV=’s Web Content Manager, said: “The LV= community has been very popular with our members since its launch, and this new competition is an ideal way for existing and new members to share what they really love in life with the wider community. Judging by the high quality of photos that we’ve already received, it’s going to be tough to choose the winners, though we’re sure that there are even better examples out there just waiting to come in.”

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By Lowering The Risk You Can Save on Home Insurance

There are many factors that affect home insurance quotes. Things such as the neighborhood the house is located in, the neighborhood’s crime statistics and the amount of security the home contains are all major components. A recently published article on InsuranceAgents.com reveals that the more secure a house is, the cheaper home insurance rates it will produce.

Fill out a form to get free home insurance quotes.

For homeowners interested in preventing break-ins—not just to reduce insurance rates but also to ensure the safety of your family and belongings—they may want to consider taking certain steps to increase home security. The first step they can take is to install deadbolt locks on their doors.

“Statistics show that thieves tend to stay away from houses with deadbolt locks on ground level doors,” the article, Low Risk Behavior: Prevent Break-Ins And Reduce Home Insurance, states. “They take substantially longer to break into thus increasing their risk of getting caught. Simply put, deadbolt locks deter robberies and reduce home insurance.”

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Identity Burglary Crime Wave is Hitting Homeowners

LV= has revealed in a new report that one in seven burglaries last year was carried out solely in an attempt to steal the homeowner’s personal details.

A quarter of all burglary victims in the past year fell prey to ID fraud as a direct result of a break in. The research from home insurer LV=, which questioned both burglary victims and convicted fraudsters, reveals the scale of the crime and fraudsters’ tricks of the trade.

‘ID burglary’ is estimated to cost the UK over £150 million per year to rectify and according to the report the number of home burglaries involving personal data theft is predicted to rise by 33% year on year if ID fraud continues to increase at its current rate.

The LV= report found that credit cards, coupled with a form of ID such as a bank statement, utility bill or National Insurance number, are prized items on the black market as they make it easier for fraudsters to steal an identity. Individual identity documents can change hands for around £15, whereas fraudsters will typically pay £150 for a ‘bundle’ of personal identity information.

One fraudster said: “So many people make my job really easy by sticking all the key documents together in one place. And for all the family too, so you often get three or four identities for the price of one, so to speak.”

While ‘identity burglars’ are becoming more common, even thieves after more traditional items such as purses or wallets are likely to take the opportunity to steal personal details as well, because they know they can sell these on. Around 94% of handbags, wallets and purses contain at least one form of personal identity document.

To help assist the growing number of people affected by ID fraud, the LV= home insurance policy now includes free access to a special identity fraud helpline.

John O’ Roarke, managing director of LV= home insurance, said: “As the trend for identity fraud increases, we would strongly urge homeowners to take appropriate measures to limit their chances of being targeted by thieves and fraudsters. As well as installing home security measures such as burglary alarms and security lights, homeowners should ensure they store personal documents securely and if possible separately to minimise the risk of ID theft.”

Via EPR Network
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