...Building Good Credit Today, parents are unsure on when and how they can guide their teens to start building up their credit. First, they need to encourage their teens to get a job. Second, parents need to talk to their teens about saving techniques and opening up their own bank accounts. Third, teens should apply for a credit card for themselves; if not possible then become an authorized user on their parents’ credit cards. Fourth, teens need to be aware that the more inquires they make for credit cards; the more that it can hurt their credit. Fifth, teens need to understand that they need to pay their bills on time or suffer the consequences. Finally, teens need to use their credit card wisely and responsible in order to build their credit. It is wise for parents to encourage their teens to withhold a job. When teens are working for their own money they tend to be more cautious towards spending it. Without their own income, they will expect their parents to continue paying for everything” (Todorova). Law requires credit card issuers to check income for applicants under age 21.” Credit card issuers do such things to assure themselves that the teen will be able to repay their credit card balances. The next step in guiding teens to build up their credit is for parents to have a mature talk about money saving techniques and opening up their own bank account. “Establishing a good banking history can help your child build a strong financial foundation, which is a stepping stone...
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...Essay on Credit What does mean “to be credit wise”? Being credit wise means use rationally the plastic card as well as to understand how to make good credit, and how to avoid different traps. Credits cards help many students to get financial freedom and desirable independence. Each student should use the credit card wisely as lately it helps him/her to reach the goals such as fulfill educational dreams or to buy a car. Credit card monitoring is important things for students that just require some common sense and responsibility. Our Service Can Write a Custom Essay on Credit for You! In fact, there are a lot of tips how to monitor the credit for getting good one. Following them student can easily prevent all possible trouble situations. Here are some of them: 1. Student should develop reasonable budget for each month, be thrifty and be able to stretch the money. 2. Student should not delay with bills payment. All the bills must be paid on time as in other case even one late payment can negatively impact on the student’s credit score. 3. If the student experiences some problems with bills payment, he/she should immediately provide the creditors with the changes. Student must keep in mind that this is his/her responsibility to inform the creditors about the changes. 4. The minimization of the card debt is also very useful in the student’s case. It is better not to exceed 30% of the available credit limit. 5. Charging more on the student’s card than the student...
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...Ian W Marsh The effect of lenders' credit risk transfer activities on borrowing firms' equity returns Bank of Finland Research Discussion Papers 31 • 2006 Suomen Pankki Bank of Finland P.O.Box 160 FI-00101 HELSINKI Finland + 358 10 8311 http://www.bof.fi Bank of Finland Research Discussion Papers 31 • 2006 Ian W Marsh* The effect of lenders’ credit risk transfer activities on borrowing firms’ equity returns The views expressed are those of the author and do not necessarily reflect the views of the Bank of Finland. * Cass Business School, London, and Bank of Finland. E-mail: i.marsh@city.ac.uk. This paper was written while the author was visiting the Research Unit of the Bank of Finland. The Bank’s hospitality was exemplary and I am grateful to participants at the Research Unit’s Summer Workshop, the Bank of Finland Economics Seminar, Iftekhar Hasan, Tuomas Takalo, and Wolf Wagner for comments. Susan Yuska at the Chicago Fed was very helpful in guiding me through the Bank Holding Company Database. http://www.bof.fi ISBN 978-952-462-340-7 ISSN 0785-3572 (print) ISBN 978-952-462-341-4 ISSN 1456-6184 (online) Helsinki 2006 The effect of lenders’ credit risk transfer activities on borrowing firms’ equity returns Bank of Finland Research Discussion Papers 31/2006 Ian W Marsh Monetary Policy and Research Department Abstract Although innovative credit risk transfer techniques help to allocate risk more optimally,...
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...& Laman, V.P. (2010)., the birth of the credit system has made the use of the documents covering credit transactions both imperative and important, such documents are known as credit instruments. While credit transaction need not be evidenced by written contract, nevertheless, it appears sufficiently clear that it is better than they are. Credit instruments are documents that serve as an evidence of debt, this defines the responsibility of the debtor to his creditor and the right of the creditor to collect from the debtor at the specified time. Bonds are promises of the payment of interest and principals to the holder at a particular time. It is a written or printed acknowledgment of debt. It is a certificate of liability or obligation. Bonds are debt and are issued for more than one year. Stocks are permanent invested capital contributed by the stockholders or owners of a corporation which are proved by certificates. It is a share of a company held by an individual. Miranda (2001) defined check as a written order drawn by a depositor, directing it to pay on demand a specified sum of money. Check is the most commonly used bill of exchange. It is a written, dated and signed instrument. Promissory note is the simplest form of a credit instrument. It is a written promise of an individual to pay a certain amount of money at certain time in the future to an appointed person or bearer. II. Kinds of credit instruments Credit instrument existed before coinage. In Assyria...
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...4 Demand for Credit: Companies demand credit for various operating, investing and financing activities. Operating activities – many companies have cyclical operating cash needs. For example, manufacturers of inventory or retailers that purchase merchandise for the end of year holiday season. Investing activities – companies routinely require large amounts of cash for investments including purchases of new equipment and property and for corporate acquisitions. Important for start-ups and growth companies. Financing activities – for issuance of debt for repayment of maturing debt obligations or the repurchase of common stock. Supply of Credit: Trade credit – from supplies is routine and most often non-interest bearing. Bank loans – banks structure financing to meet specific client needs. Bank regulators require that banks hold capital in proportion to their loan portfolio. Revolving credit lines – loans that companies draw on as needed. They are like credit cards because a company can take cash out as needed and make payments as cash is available. Lines of credit – are guarantees that funds will be available when needed. These LOC act as backup or interim financing. Letters of credit – facilitate private international transactions. A letter of credit interposes a bank between the two parties to a transaction. The letter provides a guarantee of payment from the buyer. The benefit is that is substitutes the bank’s credit rating for that...
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...International Journal of Economics, Business and Finance Vol. 1, No. 11, December 2013, PP: 431- 446, ISSN: 2327-8188 (Online) Available online at http://ijebf.com/ Research article Determinants of Loan Repayment Performance of Smallholder Farmers: The Case of Kalu District, South Wollo Zone, Amhara National Regional State, Ethiopia Zelalem Gebeyehu1*, Hassen Beshire1 and Jema Haji2 1 Department of Economics, Wollo University, P.O Box. 1145, Dessie, Ethiopia. * Corresponding author Email: zelalemgebeyehu1936@gmail.com 2 Department of Agricultural Economics, Haramaya University, P.O Box.138, Dire Dawa, Ethiopia. ____________________________________________________________________________ ABSTRACT In this study to compare defaulters and non-defaulters in terms of different explanatory variables and determine the extent of default in the repayment of loan offered to smallholder farmers in the study area were assessed. Smallholder farmers require improved agricultural technologies, knowledge and inputs such as fertilizer, improved seeds, pesticides and others that help to increase production and productivity thereby transforming their farm structure and capacity. Large investment cannot be made by the farmers out of their own funds because of their low level of incomes. Even though there are attempts to solve these rural financial difficulties by the government through extending rural financial institutions, because of social, economic and institutional factors, a number of...
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...University of Phoenix Material Credit History Worksheet Directions Identify the following factor descriptions to their corresponding C of credit. Highlight, bold, or underline the correct answer. 1. Jack and Jill want to buy a car. They are using another car for ___________ as a promise to pay. a) Capacity b) Capital c) Collateral d) Character e) Conditions 2. Under these _______________, you may still be approved with a cosigner. a) Capacity b) Capital c) Collateral d) Character e) Conditions 3. Henry has a history of not staying with a job for an extended period of time. Which of the C’s would a lender be looking at? a) Capacity b) Capital c) Collateral d) Character e) Conditions 4. Madaline is a stay-at-home mom seeking to start a home-based business. She would need a cosigner in order to qualify for a loan. What other C’s might she need for this loan? a) Capacity b) Capital c) Collateral d) Character e) Conditions 5. Lenders use a debt-payment-to-income ratio to evaluate this particular C. a) Capacity b) Capital c) Collateral d) Character e) Conditions Credit Score Resources: • Five C’s web page located at the following link: http://www.loanuniverse.com/credit.html. • Annual Credit Report website www.annualcreditreport.com. • Fair Isaac website (www.myfico...
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...Credit Card Use September 15, 2010 The article I found about interest rates is called “Credit Where It’s Due.” This article talks about credit unions and how they offer lower rates and how they are becoming more popular. This article states that more people are looking into credit unions because of lower interest rates and higher savings rates. I think it is relevant to credit card use because if more people saw this article, more people would think about joining these credit unions and receive lower interest rates on credit cards. Article 2 is called “Win at the Credit Scoring Game.” And is about credit reports and ratings. The first thing you need to do is learn your score. They also say that you should never, ever be late on payments. Also always remember the “magic 20%. This 20% is about how much you owe compared to how much credit has been extended to you. This article is relevant to credit card use because it tells you what to do if you spot an error, how to improve your score. All the things that people should realize if they have a credit card. The article that I found is about money management and is called “5 East Cost Cutting Tips”. It includes things like to stop paying credit card interest rates, get a better price no Internet service, slash cell phone costs, reconsider landlines, and reducing bank fees. This article gives you all the ways you can cut and how to do each. This article is relevant to the topic of credit card use because it shows you that...
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...1. Most credit cards require that you pay a minimum monthly payment of two percent of the balance. Based upon a balance of $5,270.00, what would be the minimum monthly payment (assuming no other fees are being applied)? I found that the minimum payment that I would be making is $104.40 per month because it is two percent of $5,270. 2. Considering the minimum payment you just calculated, determine the amount of interest and the amount that was applied to reduce the principal. Hint: You’ll need to find the total interest for the year first. The total interest for the year would increase my balance of $5,270 to $6,823. If I determine the amount of interest that will go into my monthly payments, then my payments will be $136.46 instead of $104.40. 3. Consider one of your credit cards. What is the balance? How is the minimum monthly payment determined? What would be the minimum payment? How much of the minimum payment goes towards interest? How much of the minimum payment goes towards the principal? If you do not want to share an actual balance or do not have a credit card, calculate these amounts using an imaginary credit card balance. My fake credit card would have a balance of $10,000. The minimum payment per month is determined based on my income. The minimum would be 5% of the $10,000. Two percent of the minimum payment would go towards interest. One percent of the payment would go towards the principle. 4. Now, examine the terms of one of your credit cards or...
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...Published in The Hindu - Sunday Magazine on Oct 5, 2008 The bursting of the speculative bubble in the U.S. housing market has destroyed billions of dollars in investor wealth across the world, crippled the banking system, expunged close to a million jobs…and India has not been spared either. With banks failing by the day…definitely, these are uncertain times for the financial services industry. While many people who have lost their jobs, are faced with permanent shrinkage of their lifestyle, others in the industry are going through the trauma of not knowing if and when their turn would come. Who is to blame? Flashback to year 2003: Rohit (name changed to protect identity), a good friend of mine and someone who was officially considered to be a genius with an IQ of 150+, graduated from one of the leading IIM’s. Rohit managed to make it into the New York Headquarters of the most sought after firm that had arrived on campus for the first time – Lehman Brothers – a top U.S. Investment Bank (then). On joining, he was assigned to Lehman’s mortgage securities desk that dealt with Collateralized Debt obligations (or CDO’s). Following is an extracted transcript of a chat session I had with Rohit back in 2004: Me: So man, you must feel like you are on top of the world. Rohit: Yes dude, the job here is amazing, I get to interact with people around the world, investment managers – who want to invest millions of dollars Me: great…so tell me something interesting. What’s your job all about...
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...A PROJECT REPORT ON RECRUITMENT AND SELECTION PROCESS AT HCL SUBMITTED IN THE PARTIAL FULFILLMENT OF MASTER IN BUSINESS ADMINISTRATION SUBMITTED BY AVINASH KUMAR MASTER IN BUSINESS ADMINISTRATION- IVTH SEM ROLL NO- 1208007298 (2012-2014) UNDER THE GUIDANCE OF: External Guide: Mr. Akshat Kapoor (HR Manager) Submitted To: Internal Guide: Mr. Shakti Tiwari (MBABR0017) Sikkim Manipal University, Sasaram ACKNOWLEDGEMENT Knowledge must be confined to ivory power but must step out and find practical application. This becomes possible with summer training stepping into provide grounding professional career. Two months of training in HCL Technologies Limited really fulfill this objective. I would like to express my sincere gratitude to Mr. Akshat Kapoor, (HR-Manager) HCL Technologies Limited for providing me an opportunity to undertake this project work. Last but not the least; I would like to thank those who were directly or indirectly responsible for the successful completion of the project. 1 DECLARATION I hereby declare that the project entitled on the Recruitment and Selection process at HCL Technologies Limited submitted to the SIKKIM MANIPAL UNIVERSITY, in partial fulfillment of the degree of Master Of Business Administration (MBA) is my original and not submitted for award of any other degree, diploma or other similar award. Date :-02-06-2014 AVINASH KUMAR Roll No 1208007298 Place :-Sasaram 2 CONTENTS INTRODUCTION PROFILE OF HISTORICAL...
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...Lesson Nine A Dill Pickle Part One Warm up I. Dictation Katherine Mansfield (1888—1923), British short-story writer, was born in Wellington, New Zealand. She is considered one of the greatest masters of the short-story form. At the age of 18 she settled in London to study music and to establish herself as a writer. In 1918 she married English literary critic ，John Middleton Murry. Mansfield's middle class provided the setting for many of her stories and mortality—perhaps due to her illness—dominated her writing. Her background years were burdened with loneliness , illness, jealousy and alienation —all reflected from her work in the bitter depiction of marital and family relationships of her middle-class characters. As a New Zealand's most famous writer, she was closely associated with D.H. Lawrence and something of a rival of Virginia Woolf. Her short stories are also notable for their use of . Much influenced by Russian writer Anton Chekhov, Mansfield depicted events and _____ changes in human behavior. II. Poem Appreciation Camomile Tea ——by Katherine Mansfield Outside the sky is light with stars; There's a hollow roaring from the sea. And, alas! for the little almond flowers, The wind is shaking the almond tree. How little I thought, a year ago, In the horrible cottage upon the Lee That he and I should be sitting so And sipping a cup of camomile tea. Light as feathers the witches fly, The horn of the moon is plain to see; By a...
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...Bonus: A Tale of Two Cities Summary In the article “A Tale of Two Cities: Distinctiveness Theory and Advertising Effectiveness”, the authors talk about a study that they conducted concerned with advertising and ethnicity. They mention that the overall population of the United States is becoming more and more diverse. They write that “advertisers have not been slow to respond to these cultural trends.” They have realized that “using only majority (white Anglo/European) characters might not be the most effective policy.” They are saying since the overall population is becoming more diverse, it may better to use characters of different ethnicities in commercials to be more effective. The authors wanted to conduct a study to see if distinctiveness theory was true. “Distinctiveness theory implies that the lower proportion of minority group members in the overall population, the more likely that ethically targeted stimuli will be effective (57).” Studies that have been taken earlier tied to marketing and ethnicity includes the Whittler study. In this study, they found that viewers prefer ads using spokespeople of their own racial or ethnic group. Also, they found that “…this preference for the viewer’s own racial/ethnic group appears to be stronger for viewers who more strongly identify with their racial/ethnic group (58).” According to earlier studies, Deshpande and Stayman, hypothesized that consumers who are in a minority in their ethnic situation should be more likely...
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...Final Draft Although there are many advantages of possessing credit cards, most Americans should not use them; because they do not use them properly to where they become liable or subject to overwhelming debt, which could damage their credit history. Personal credit card debt has doubled in the past four years and personal bankruptcies are at the highest ever, and still more Americans are spending money that they do not have. Credit cards allow and encourage individuals to buy more than budgeted, and this is obviously a situation, which is best to avoid. Knowing when it is a bad idea to use a credit card can help you to avoid adding debt to your credit card. It is no doubt that the use of credit cards have eased the rate in which people obtain goods and services, but the use of credit cards have done more damage to the finances of Americans credit card users than good. Credit cards have become a problem for most American credit card users and there are even cases that some Americans have committed suicide because of the heavy debts he or she owes the credit card companies. Should Americans continue using credit cards? The answer is definitely no as the detriment that comes with using credit cards outweighs the benefits. Credit cards are a huge convenience in everyday life, yet most people are irresponsible when using them. The convenience of possessing credit cards increase the risk of overspending because people can convince themselves to spend more than what they...
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