...£ | Wages | 866.66 | Parental Allowance | 20.00 | Benefit/Bursary | 43.33 | Total Income | 929.99 | Expenditure | Month £ | Rent | 585.00 | Food | 100.00 | Toiletries | 20.00 | Mobile Phone | 25.00 | Insurance | 25.00 | Going Out | 151.66 | Gym | 15.00 | Clothing | 50.00 | Transport | 86.66 | Total Expenditure | 1058.32 | Total Income | 929.99 | Total Expenditure | -1058.32 | Balance | 128.33 | 1) Do you have any money left/are you overdrawn? No I don’t have any money left and yes I am overdrawn. 2) What should you do: Give three ways to improve your balance this month * I could review my food budget to see if there is any way that it can be lessen,example:Compare product branding, I may be able to get the same products cheaper in a different brand, I can also look for offers in the supermarket. * Reduce going out expenditure, example: I can go out less frequently or spend less when I go out. * Review my overall expenditure and spend money only on necessities. 3) Why is it important to deal with it now? It is important that I deal with it now so as not to go into debt any further. It would be easier to manage my overdraft if I deal with it now than let it increase over further months. Task 2 Dear Sue, How are you? Hope all is well with you and your family. It is great that you would like to buy a new car, and you are looking at the possibility of a loan to finance your purchase. ...
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...Money Management There is nothing but time in my life since I am unemployed, and I have been for three years, so I choose to write about money management, due to the fact that, that is the biggest challenge I am facing on a daily bases. As the head of my household, and being a single, parent is has been difficult to take care of my son, who is growing and is in need of clothes, from underwear to shoes, and since this is the beginning of a new school year it is a little more difficult, because I cannot afford to purchase him any new clothes for him. I have to struggle to pay rent for our home and utilities (gas, lights, and water). I do receive a check from the Family service’s agency that is four hundred dollars a month for the two of us and I try to stretch that as far as I can, which is very challenging. I have to decide which bill to pay for the month and manage the other’s until I can get my hands on more money. I have had to sell some of my furniture just to make it through to the next payment comes in from the family services. Going for help was a very difficult moment for me being that I consider myself very independent and self sufficient. Efficient use of money can increase my goal to own a business one day. I must routinely plan a daily, weekly, and monthly schedule. Establishing a routine is essential in operating any organization. Planning a family daily or weekly schedule allows me to understand and count every penny I have. , I must maintain effective money management...
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...Money Management There are times when individuals feel that all of their money goes to paying off debts. We have credit card payments, car payments, and mortgage payments. Having too many debts can sometimes be overwhelming. While some bills are unavoidable, such as mortgage payments, most bills can be avoided by utilizing better money management skills. Poor money management is the third leading cause of debt (Bucci, 2005). Developing a monthly spending plan is one of the most important steps a person can take when managing his or her money. A monthly spending plan can be useful to track what our expenses are on a monthly basis. In order to track our expenses, we need to write down everything that needs to be paid making sure that we do not forget anything. We then need to evaluate the importance of each expense to see if it is a necessary expense or one we can eliminate. One way to do this is to list those expenses in the order of their importance. One example would be the mortgage on your home. This should be the most important expense on your list. When making your list you need to make sure to write down how much money is needed for each of the expenses. Your monthly expenses should not exceed your monthly income. An example; if your mortgage payment is more than half of your monthly salary, you would not want the remaining expenses to equal more than the remaining 50% of your salary. People whose expenses are greater than their income can become extremely stressed...
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...MONEY MANAGEMENT Many young people face the dilemma of learning how to manage their money. Due to this, they often find themselves in debt or unable to support themselves. I have learned a few ways to keep myself from falling into traps that may cause me to be in debt or with no money. I have found that if I create a budget, make a list of my necessities, and set financial goals, I am able to avoid financial snares. Create a budget, this allows me to have certain amount of money in a week to spend. A way of doing this is by setting aside a specific amount of my allowance spending and save the rest. I specify the amount of money I will need to spend monthly and I try not to go over my specified budget. Another way deciding how much money I want to spend on certain things. I try to find the best bargains possible. If there is something that I want and it is expensive, I try to wait and save up in order to buy the specific thing. By doing this, I do not have to go into my savings in order to buy something that was not needed immediately. A major factor of sticking by my budget is learning to say no. I try to avoid places where I may be tempted into overspending. In addition, I avoid associating with people who like to spend their money without considering the consequences. Making a list of necessities is another effective way of managing money. I can do this by deciding what things would be needed and what is not needed. In. This way I can be sure that I am spending my money...
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...Money! That’s what business is supposed to be all about. Then how come so many people in business don’t pay much attention to it? Oh, we may spend a lot of time and effort thinking about ways to make money, but most of us give little thought to how we manage our money. Of course those of us who run our own companies know why money management is often given short shrift. I have to spend all my time dealing with customers and employees, making my products and delivering my services, and handling the e-mail, phone, and paperwork of day-to-day business life. As long as I can pay my bills and have money in the bank, then money seems to be one thing I don’t have to worry about. Except that if I don’t take time to think about my money, there’s going to be less of it. Perhaps a lot less. Managing your money doesn’t' t have to take a great deal of time, especially if you get in the habit of taking care of a few money matters on a regular basis, such as: • Send out your bills. I' m continually amazed by the number of businesspeople, especially professional service providers, who wait months before billing clients or customers. The best practice is to get in the habit of billing immediately when you’ve delivered a product or service, even if the bill is not due for 30 days. Make certain you do your billing at least once a month. Remember, the longer you take to send out your invoices, the greater the chance you won’t get paid at all. • Review your books regularly. When you’re running...
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...Money Management Every company has a situation where it reflects before venturing into new investment means for increased profits. It is important to know the threats surrounding a company in terms of investment. For that reason, the organisation of choice has a risk profile indicating its positioning when thinking of investing in a new strategy. Apparently, the company has the willingness to take head-on the risks that would come along with any investment form. There are several financial instruments for investing in a new plan. The company has hatched mitigation measures for risks that may affect the incorporation of the strategy. The company’s decision to invest using the new financial instruments can realise increased costs, or losses in terms of trading in the finances, but these are some of the risks the organisation is willing to take head-on. In addition, with the current instability found in the financial sector after the infamous global financial crisis, companies run the risk of being caught up again in the recession. However, the company has engaged with the insurance companies and also with the necessary financial institutions so that in the event of unfortunate occurrence, the company remains safe. One example of financial instrument for investment is the Exchange Traded Fund (ETF), just like any other source of investment; it does not come along without its risks. In other words, there is no investment that is free from risk; they are all likely in one way...
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...Saving Money by Using Power Management In the first paragraph of your Case Project, please give the purpose, situation, or outline of the topic you’ve selected. For example, CP 3-2 on page 147 of the text book indicates Gigantic Life Insurance is looking to save some cash, but I’m not going to give you the paragraph for your paper. Just give a basic recap of the paragraph in the book. It may be nearly word-for-word. The second and third paragraphs allow you to describe the proposed solutions, procedures, opinions, thoughts, positions, or whatever is required to satisfy the case objectives. Write this paper in the voice the text requests or just as a written response to me. These papers will not be read to the class, nor will they be harshly graded. The purpose of the Case Projects is to engage critical thinking in the realm of the subject and communication of ideas. This is not a writing course, but written communications is important in the IT world. Your final paragraph should include a recap of the objective and solution. Please remember to keep the audience in mind. If your selected topic is a letter to other IT folks, you may use technical jargon without a ton of explanation. However, if you’re to write a user policy for example, you should tone down the tech talk to end-user level. Remember to include AT LEAST one external source in each of your papers. This source may be anything you’d like as long as it has something, anything...
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...own home. I was lucky enough to have a close family member that was looking to buy a larger home for his family, so I was given the opportunity to purchase a small three bedroom two bath home in the small town I grew up in. To be able to impark on such an investment was both scary and joyful at the same time. The investment has taught me about money management including monthly mortgage payments, upkeep/maintenance, and payment of expenses. “Money management may be based on a simple idea, but there is a big incentive for us to make it seem more complicated than it really is. If we don’t understand money, then we don’t have to be responsible for it.” Becoming A Master Student, p.295). This investment, has taught me a great deal about money and the ability to manage my money, holding me responsible for the house as well as the money involved to pay for the investment. “There are three main steps in money management: First, tell the truth about how much money you have and how much you spend (discovery). Second, commit to spend less than you have (intention). Finally, apply the suggestions for earning more money, spending less money, or both (action)”, (Becoming A Master Student, p.295)....
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...out of 2 points | | | ________________ involves making decisions relating to issuing and investing in stocks and bonds.Answer | | | | | Selected Answer: | Investment management | Correct Answer: | Investment management | | | | | Question 2 2 out of 2 points | | | Economists use a ___________________ framework to explain how the prices and quantities of goods and services are determined in a free-market economic system.Answer | | | | | Selected Answer: | supply-and-demand | Correct Answer: | supply-and-demand | | | | | Question 3 0 out of 2 points | | | The goal of the financial manager in a profit-seeking organization is to maximize:Answer | | | | | Selected Answer: | the value of perquisites. | Correct Answer: | the owners’ wealth. | | | | | Question 4 0 out of 2 points | | | ________________ involves the sale or marketing of securities, the analysis of securities, and the management of risk through portfolio diversification.Answer | | | | | Selected Answer: | financial management | Correct Answer: | investments | | | | | Question 5 2 out of 2 points | | | Maximizing _____________________ is accomplished through effective financial planning and analysis, asset management, and the acquisition of financial capital.Answer | | | | | Selected Answer: | the owners’ wealth. | Correct Answer: | the owners’ wealth. | | | | | Question 6 ...
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...Cash Management Services name HCA/270 September 04, 2011 teachers name Cash Management Services Cash management services are ideal for most if not all businesses. These services provide businesses with the tools they need in order to ensure that their money is being handled properly. I am going to compare the cash management services that are offered at three banks: Old National Bank, Fifth Third Bank and Chase. Old National Bank I chose Old National Bank firs because this is a bank that I am very familiar with. We have our auto loan through Old National and my previous auto loan was through them as well. They have excellent customer service and are always willing to help their clients out any way that they can. Old National Bank has one hundred and seventy locations in four states: Indiana, Illinois, Kentucky and Ohio with their headquarters located in Evansville, Indiana. Old National has a great online banking system. The site is very easy to navigate with many tutorials and demos provided. Under the business tab I am able to find out information regarding receivables, payables, information and money management along with fraud protection. Under each of these titles I am able to find out what services this bank provides while in the comfort of my own home. Receivables management states that they can help accelerate and improve my cash position. (Old National, 2011) Services offered include: express deposit, retail lockbox, wholesale lockbox, consumer direct debit...
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...The secret of good financial management is to keep things simple, develop routines and get into good habits. People sometimes worry that financial management will be a very complicated, difficult and intellectual process. But in fact the best financial systems are very simple and easy to follow. The more complicated the system, the greater the chance that something will go wrong or that someone will make a mistake. Remember, the legal responsibility for financial management lies with every member of your management committee and not just the treasurer. Your management committee and members must know who is responsible for the financial tasks in the organization and these should be clearly defined in your trustees' written roles and responsibilities Financial controls Which accounting system? Reserves Budgeting Cash flow Book keeping Petty cash Bank reconciliation Finance reports Annual accounts Glossary Financial controls are the written rules and procedures for financial control and management that all organizations should have. Financial controls should cover, for example, who can sign cheques, who maintains the cash books, and how petty cash is administered. Some of these rules will be laid down by the constitution (or, in the case of registered companies, memoranda and articles of association) and others may simply be unwritten understandings, or ways of working traditionally adopted by the management committee or staff of the organization...
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...Term paper of Ef4461 Topic : Shadow Banking in China Created by Pan Date: 24/4/2015 Abstract: In this paper , I will examine the China’s shadow banking for its potential risks. China, an expansion of risky and complicated financial practices in the world’s second-largest economy , what is the potential risk behind? Introduction: From Bloomberg, the definition of“shadow banking” encompasses risky investment products, lending between individuals, pawnshop and loan-shark operations in emerging markets, as well as more respectable activities like derivatives, money-market funds, securities lending and repurchase agreements at financial institutions These activities are beyond the control regular banking system and regulators. Therefore are exempt from the limited regulations and oversight placed on the traditional banking sector. So it is hard to restrict risky lending for the regulators. In china, savings deposit rates of 3 percent which is lower than the target for inflation, combined with at least 90% of small businesses could not get bank loans which propelled the shadow-banking sector to an estimated $6 trillion. Overview of shadow banking in the world and China There are $75 trillion global shadow banking assets worldwide in 2013 according to Financial Stability Board Report,(Appendix 2). After 2008 crisis, The U.S. and the euro area each accounted for a global shadow banking assets, followed by Britain with a 12 percent share and Japan’s 5 percent share(Appendix3)...
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...and indirect (benefits) compensation package. My direct compensation package would consist of salary, hourly wages and bonus. Factors that would affect my direct compensation package are supply and demand, labor unions and the company’s ability to pay and its productivity and government regulations according to (Montana & Charnov, 2000, p 222). Supply and Demand dictates the availability of qualified people within the area to do the job. If the economy is doing well then their will be great competition in attracting qualified candidates to do the job, this means management would have to pay a higher dollar amount to qualified candidates. If the market is slow then there will be a surplus of qualified and candidates and the pay will fall off. Management will have to pay attention to supply and demands factors in the labor arena before determining wages or salaries (Montana & Charnov, 2000, p 222). Management should also be prepared to establish pay levels within positions; this will give employees an opportunity for advancement within the company and help with retention. Managers should also ensure...
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...Differential effects of incentive motivators on work performanceAlexander D Stajkovic, Fred Luthans. Academy of Management Journal. Briarcliff Manor: Jun 2001. Vol. 44, Iss. 3; pg. 580, 11 pgs | Abstract (Summary) In this field experiment, first compared is the performance effects of money systematically administered through the organizational behavior (O.B Mod.) modification model and routine pay for performance. This was compared with the effects of O.B Mod.-administered money, social recognition, and performance feedback. The money intervention based on the O.B. Mod. outperformed routine pay for performance and also had stronger effects on performance than social recognition and performance feedback. Full Text (7144 words) Copyright Academy of Management Jun 2001 [Headnote] | In this field experiment, we first compared the performance effects of money systematically administered through the organizational behavior modification (O.B. Mod.) model and routine pay for performance and then compared the effects of O.B. Mod.administered money, social recognition, and performance feedback. The money intervention based on the O.B. Mod. outperformed routine pay for performance (performance increase = 37% vs. 11%) and also had stronger effects on performance than social recognition (24%) and performance feedback (20%). | | Although behavioral management, as a systematic approach to increasing employee effectiveness, was formulated about 25 years ago (e.g., Luthans...
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...Time value of money :A time value of money calculation is one which solves for one of several variables in a financial problem. In a typical case, the variables might be: a balance (the real or nominal value of a debt or a financial asset in terms of monetary units); a periodic rate of interest; the number of periods; and a series of cash flows (in the case of a debt, these are payments against principal and interest; in the case of a financial asset, these are contributions to or withdrawals from the balance). More generally, the cash flows may not be periodic but may be specified individually. Any of the variables may be the independent variable (the sought-for answer) in a given problem. For example, one may know that: the interest is 0.5% per period (per month, say); the number of periods is 60 (months); the initial balance (of the debt, in this case) is 25,000 units; and the final balance is 0 units. The unknown variable may be the monthly payment that the borrower will need to pay. http://en.wikipedia.org/wiki/Time_value_of_money Efficient market: In finance, the efficient-market hypothesis (EMH) asserts that financial markets are "informationally efficient". In consequence of this, one cannot consistently achieve returns in excess of average market returns on a risk-adjusted basis, given the information available at the time the investment is made. http://en.wikipedia.org/wiki/Efficient-market_hypothesis Primary versus secondary market: Primary vs. secondary market...
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