* Prices may differ from that shown
Money! Money! Money! Love it or hate it, we need to have money in order to survive today. Some say it is the root of all evil but it is definately what makes the world go round!
We all want to have a lot of money because it would mean an easy exsistence where you would not have to worry about surviving. Having a lot of money can take away a lot of the daily grind stress most of us go through and instead could allow you to pursue activites which are of enjoyment rather than necessity. This is why so many of us play the National Lottery every week!
The money system is in my opinion the best system any one has thought of which enables us to purchase goods and services from each other. I dont think society would function as well as it does today or even be as advanced if we had not invented money. It really does make the world to go round as it enables a way in which we can all function together!
However, in our times it has also become some what of an icon or even god to many people. I think it is this which has really given money a bad name. A lot of people today will do almost anything for money including robbery, prostitution and the selling of CLASS A drugs, which can all reap big monetary rewards but also cause a lot of harm to our society.
Money is a funny thing and even lthough our society has come a long way, we still have a lot to learn about money. But until then have some fun making some and always remember you can't take it with you!
As this is a review about money I thought I would add some ideas for you to make money online in your spare time (apart from Dooyoo)!
---> Sell sim cards you get for FREE! http://tinyurl.com/12-POUNDS-FREE-3-SIM
--->Sell you old stuff on Ebay (including your free sims) - www.Ebay.co.uk
--->Sell your old mobile phones - www.envirophone.com
--->Work from home - www.arise.co.uk
For years I lived in a small flat spending within my means, whilst work colleagues had larger houses and regular changes of wardrobe and generally a much higher standard of living. Along came the the credit crunch and for some jobs were lost and for others overtime was scarce, the ability to borrow more money to fund their lifestyles was gone. With the value of their properties falling, suddenly they have had to face reality and are envious that I have no mortgage, no credit card debts and have savings to support myself through these times.
They now worry about the future as the equity in their homes has not only decreased, but also the prospect of equity increasing in the future to fund their retirement looks very unlikely. Sadder still is observing their obvious difficulty when trying to cope with their drop in living standards, they are simply not used to watching what they spend. I am getting a little tired of being told how lucky I am, which makes me think that they still haven't got the message.
But my hope is that it isn't to late for many readers to make a change to their financial life and realize that even if budgeting takes you an hour a week, an hour that you would rather be spending in the wine bar or having a lie in, it is time well spent. As for those designer shoes or the latest hi tech gadget, think about it , why do you want to pay the card companies interest rather than keeping the money for yourself? Every paycheck I receive is allocated in my budget spreadsheet- month's money, household bills, holidays, clothes, savings etc; etc. All credit, debit card and cash expenditure deducted from the relevant column. They used to think I was crazy, their attitude was if they had money, they would spend it and that included their credit card spending limits and any mortgage amount that the bank would allow them.
I admit that there have been times that I felt that I was missing out by being so budget minded, but now I feel completely exonerated and being financially stress free is the reward that makes the effort worthwhile.
One tip I have always found useful is to work out how much you take home per hour of work and then when you feel like buying a non essential item- work it out in hours - do you really want to have had to go to work for an hour to buy a dvd that you will only watch once? Or an hour and a half to get a more than you can eat takeaway? One colleague worked out that the money she spent each week by buying lunch rather than bringing in packed lunches, together with the money for coffees, breakfast muffins and magazines cost her a whole day's pay every week.
I never economize on food, but I will do on other items bought in the supermarket like kitchen paper and toilet roll, I have watched the faces of others in the queue as I wait to pay for my basic brands, and notice that many feel superior as they can afford the branded items, but I couldn't care less, feeling that the absence of an overdraft has the last laugh.
When you are out shopping don't say to yourself-"I can't afford it", that can make you feel hard done by, but saying "I can afford it, but I choose not to" is a much more satisfactory feeling.
My instinct always told me that time and quality of life were the riches I wanted and I have not been proved wrong yet.
With my mortgage paid, my retirement fund at an acceptable level and with no debts, I have been able to leave a very demanding and stressful job and to move to lower paid employment that offers me flexibility. I may not own any designer handbags, but the change in my life is priceless.
If you would rather be doing something else other than working in your current job, remember your spending is the entrance fee to the treadmill ride and your savings are the key that stops the ride and enables you to get off.
Your new happiness awaits- the journey may take many years depending on where you are now- but you will arrive if you take the steps in the right direction.
'Money makes the world go round ' is a very famous saying , i've heard many times in my life . It is the reason thousands of us venture into the world of work daily . In britain it also changes the social aspect of your life , for example manual workers in a large factory plant are often described as 'working class' and traditionally used to socialise in the local working mens club or local pub . Whereas the opposite to this is the proffesional or upper class who tend to be seen at golf clubs or expensivee restaurants . Some people may find that view unnacceptable and very old fashioned but I was just giving an example of how money affects people's lives .
Money is also a reason why thousands of people write reviews on this website , of course many of us do it for the joy of helping others out .
Money is all over the media daily especially recently witht the effects of the economical downturn and the MP's expenses scandal . Money - I dont know anybody that doesnt like it.
We rarely stop and evaluate the attributes of money, but at some point, we should ask ourselves why we spend our who time devoted to getting the stuff. The main reasons are obvious- why use them to buy goods in order to live, but after analysis, money is technically worthless, allow me to explain.
I believe it was Richard Feynman who said: "There are two kinds of job in this world: one involves taking things out of the earth, the other involves telling other people to take things out of the earth. One is badly paid and unpleasant, the other is well paid and very pleasant."
He had a very good point- this does devalue money slightly, as it is arguable that it rewards the wrong people, but that's not why it's worthless.
Money was anciently designed to make everybody's skills worth something. In the days where trading good for other goods, some bright spark came up with the idea that he could create a new 'good', something which would be universal. He came up with money, a very cheap thing to obtain, which represented a chance to but other goods. Although it could not be used itself, it was accepted that it would be set at certain costs for different goods. The idea itself is utter genius, but its future implications are terrible.
Nowadays, money is king. Money is now power, rather than a simple go-between. Especially today, where we suddenly realised that we've been using imaginary money to use the banks (a new-fangled idea- you can store money in these), now we've fallen through our fake grounds of cash.
General disclaimer for my reviews:
I have been a child of the Elohim of The Holy Scriptures (The Bible) for approximately 25 years, to date, and only recently I have come to realize just how much my trust in, devotion to, fear and worship of and love for Him and His Messiah (Yahushua/Jesus) has permeated every corner of my being, in this period of time. The realization that this bias of mine, for Him, His Word and the people He first chose to reveal Himself to, i. e. the Jewish people, may, very well, irritate, annoy or even offend some dooyoo members, who do not, at all, share my convictions, have caused me to write this disclaimer.
With this disclaimer, you are now aware of my specific bias, which are, so obviously, entrenched in my reviews. If you suspect that, by reading any one or more of these, you will become unduly irritated or the like, you have all the freedom in the world to just ignore it and move on to some other review; there are so many very good ones in this community. I give you the following assurances as His child . . . I will never ever be offended or otherwise hold it against anyone, whosoever, who makes any negative or, even derogative (may Elohim forbid!) comment about me, the Jewish people, my beliefs or, even, the Elohim I serve. Even if I should know that a specific member avoid my reviews, like the plague, because of who I am in Him, I will continue to rate said member's reviews on a fair and consistent basis, just like everybody else's.
Dear friends, today I will share my views on money with you . . .
Since time began people everywhere needed a commodity that everyone valued, in order to buy and sell, and everyone in our world have to do the former in order to live. In ages past gold and silver, even bronze, were used as the commonly accepted commodity to buy and sell, in our modern world it is paper money, and it is anyone's guess what it might be in time to come.
It must be clear that there is nothing intrinsically evil about money, never has been, and never will. The saying . . . "Money is the root of all evil.", is, therefore, completely inaccurate. There is rather something wrong with us, and Holy Scripture is not slow in telling us exactly what it is. In Jer. 17:9 we read . . . "The heart (of man/woman, by implication) is crooked above all and desperately sick . . ." This is the problem, i.e. there is a sickness within us. The Almighty One has, of course, provided a wonderful WAY for us to escape having to live with the reality and the consequences of this inherent sickness, but the former is outside the scope of this discussion. With the above understanding, we can now correct our saying to . . . "For the LOVE of money is a root of all kinds of evil . . . ", exactly as we find it recorded in The Scriptures, in 1 Timothy 6:10(a).
This inappropriate LOVE we can, so easily, acquire for money, and not the substance itself, is, therefore, the cause of greed, selfishness, envy, fear and the like. Almighty Elohim (G-d) has created us to love Him, above all, and to love people (our families and our fellow man), everywhere, never money, which, for obvious reasons, has value in our world, but in the end, is nothing more than lifeless paper.
Elohim knows better than any one of us that we need money in order to live in this world. If we trust Him above anyone or anything else in our lives, He promises in His Word that He will make a way for us, i.e. take care of our needs. It is right here (our human natures' dissatisfaction with Elohim meeting our needs, rather than our wants), I believe, where greed, selfishness etc. often begins its destructive work in our lives. In order to satisfy our wants, we consciously decide to chase after money, and even though we often achieve the former, the latter end of this, so often, all encompassing pursuit, is death to everything and anything worthwhile and beautiful in our lives.
If the LOVE of money leads to all manner of evil, the opposite must, by implication, also be true. If we can correctly prioritize this substance in our lives, we can do so much good with it in our world. Thousands upon thousands of people have gone before us, to show us the way, so to speak. There is just about nothing that money can not buy in our world . . . it can feed those starving from hunger, it can buy a new life for a terminally sick patient, it can, literally overnight, inject new life into an otherwise hopeless cycle of poverty etc. etc. etc. If we love Elohim most in our lives, it is so clear to me that He will also help us to order this substance (money) aright in our lives, which, in turn, will lead to many blessings, not only for us, but also for those who are so deserving of our financial help . . .
Money Saving Tips - Part III
Hello DooYoo members and welcome to my money saving tips guide. This is the third edition from me so please check out the previous two if you like it!
I'm here to basically help you save money and help those pennies stretch further. Here are my next five tips, I hope you enjoy and they help you somewhat!
1. The magical reduced yellow sticker. Big supermarkets, by law have to throw away any food that has passed its sell by date, but up until that date, they're desperate for a sale. So the closer it gets to the time for throwing the food away, the cheaper they will sell it at. Once the food starts to get near its expiry, a yellow reduced sticker will be placed onto it, in hope of getting a quick sale.
The reduced food works in a tiered system, the closer the supermarket are to throwing the item away, the cheaper it will be. The reductions start at 25% and at the last reductions it will be a whopping 75% off the original price. This would mean your usual Tesco sandwich that costs you £1 would only cost you 25 pence because they are getting desperate for a sale.
The common items that are frequently reduced significantly are sandwiches, pre-made salads, fresh salad, bakery items and cakes, juices, smoothies and bread. Also it is often found that goods with damaged packaging will also end up on reduced as the contents inside will be totally fine to eat, just the packaging might have something wrong with it. Just make sure you inspect the item and its sell by date. The best time to grab reduced items is in the evening, a few hours before the store will close.
2. Check the details on your car insurance. This might apply to only a select few but it's worth it if you're in the situation. If you have taken out car insurance or renewed recently and have had to declare unemployment due to all of the recent job cuts your premium may well have gone up. As soon as you find yourself back at work, even if you're in a small part time job, call your insurance company ASAP.
Your insurance company will lower your premium and refund you the difference. I did this last week when returning to work and was reimbursed £18.90. If your in the same situation or might be in the next little while, grab your money back.
3. Make the most of cheap-rate electricity. Most electricity providers now have an off-peak rate where you are charged significantly less per unit if used within a certain time period. This is usually around 1am - 8am. You can use this to your advantage, for example;
Your washing machine uses a hefty amount of electricity while you run it during peak time. Peak time costs roughly 18p-20p per kW used so it can add up very quickly if your washing machine is anything but super energy efficient, which is rare. So why not do your washing off peak? And hold your insults, I don't expect you to get up every night at 5am just to get up and put the washing on, there is a trick to it!
Invest in a mains timer. These can be found in any good hardware/DIY shop (Focus, Homebase, B&Q etc) and cost about £5-£7 depending where you shop. They plug into the mains like any other plug and then the appliance (washing machine for this example) plugs into the timer. You can then set the timer to come on at 5am, pre pack your washing machine with the clothes to be washed and then leave it. At 5am the next morning, the timer will turn on the mains for you and your washing will get done for a fraction of the price. In comparison, off-peak costs around 4-6p per KW and peak time is 18-20p per KW. It's a massive saving and can be used on other electricals too, such as charging mobile phones, games consoles (PSP, Nintendo DS etc) and many more.
4. Try dropping a brand. This one is quite experimental but it does work for some. When you do your food shopping, pick a few items per week and drop them a brand to see if you can save money and still be happy with your purchases.
For example, if you normally buy Tesco Finest Bread, drop a brand and try the Tesco Own brand bread and see what its like. You'll be amazed at the price difference and the food won't be much different. If you're already on own brand products, try dropping some items to the value range to save even more money. Some of the value items are extremely underestimated and are very good, especially when they cost just pennies. I have personally reviewed my recommendations for the Tesco Value range here on DooYoo so check those out.
5. HotDealsUK. HotDealsUK is a great website that comes well recommended by me for money saving and finding great purchasing deals. It's completely free, and you don't even have to register to browse and find deals.
HotDealsUK are all user generated and found by normal people just like you and me. People that like to share a bargain and help you get items for cheap are fire here and it's extremely popular.
The website is updated very often and has Amazon deals, smaller online company sales and special offers, discount codes and various loop holes/misprices to help you get a great deal. If you're looking for something specific or even if you're not, check out HotDealsUK first and I bet you'll find a better deal and save money. Use their search function on the top right of the website and see what you can find.
I hope these tips help you to save money, throw me a message or comment if you liked them and I hope to see you for the fourth edition!
Money. What would we be able to do without it? Its the thing that connects us to the materialistic world. It's the thing that makes us the people we are - whether its selfish, greedy, self centered, or lovely, kind, generous - money has made us the people we are because without it who knows how we would be like. Many people ask, does the world revolve around money, well all i can say is yes it does and its the thing that causes wars and hatred between all of us living on earth. But without it none of us would have the drive to work and do things for other people unless there is something in it for them - which is money. I think money was one of the most fantastic ideas in the history - without it, there would be no school, no education, no university, no careers. Money has had an unbinding force to make us do things. Money has encouraged man to be intelligent. Without it, we would be nothing.
i wish money wasnt what makes the world go round but unfortunately it does! i often think how did we get here?! i mean no one likes to work ect so why do we do it just because its the day and age we are in.
well theres not too much we can do about it except maybe win the lottery or something but we can make it a little easier for ourselves.
Recently well for a year or two now ive been using cashback sites and on quidco im upto £90 already and thats mainly pure free money ive only been joined up with them for a few months so thats not bad going.
Some people are in debt and have the attitude of yeah well its only money i might die tomorrow......yeah but then you might live untill your 90 and what are you going to do keep getting in more debt untill then?
i am in a bit of debt at the moment but a year or two ago i had a bit of savings and im not kidding it is seriously addictive once you start building up your savings, i cant wait to get back to this stage.
all these cashback sites and survey sites are all so very addictive too.
Even down to buying my petrol these days is exciting for me lol because of all the cash back i can get back from it like using the 5p off every litre, using clubcard to get points then using my amex to get even more cashback!!
Does money make the world go round?? yes it certainly does in a way, money is the key to power and control, it dominates so many peoples lifes, some of have so much money we don't know what to do with it, but the majority of us don't have enough and thats when it causes trouble.
Imagine a world where there was no money and it hadn't even been thought of. Would we be living the same way as we live today? would things be free, would we be happier or would we be sad. Nobody knows.
Money has always been a big issue in my life, growing up we struggled as a family and we where taught to know the meaning of money and not to waste it, we where taught that money isn't everything and doesn't buy you happiness or love. When our parents brought us things, we always respected it and looked after it. Although my parents tried to sheld us from there worries we always knew when things where bad, it caused rifts between other family members and tension amongst my mum and dad. Both parents worked to put a roof over our heads and food in our mouths, and when they could we would get treated.
At about the age of 14 i got a job as a paper girl and although i only £15.00 each week i thought i was doing my little bit to help, when i got my wages, i would always offer mum and dad £10.00, but they would point blank refuse saying it was my money and i earnt it. But it didn't feel right so when everyone had gone to bed i used to sneak downstairs and put £5.00 in mums purse and £5.00 in dads wallet, and every week i used to write the same note- please don't try to give this back to me, go and buy something nice you deserve it. That carried on for about a year until i turned 15, and then i got a job as a waitress in my local village pub, being on a higher wage i would always give them a little bit each week.
When i moved into my own house with my partner, i really looked forward it, the thought of having my own freedom, playing housewife, seemed amazing, people always used to keep telling me, you'll regret it sooner or later with all them bills to pay. I just shrugged them off thinking everything will be fine, little did i know they where right, paying the rent, the gas bill, council tax, all started to get on top of me and i soon realized life wasn't a bed of roses living on your own, you have responsibility's. And thats why now i have so much respect for my parents because i now see things from there point, how hard life can be sometimes, we manage, but sometimes i wish things could be different, and i think i've learnt the true meaning of money.
That it is the route to all evil
Does money bring happiness, my answer would be no but it helps to make life a lot easier.
When I met my future husband and moved in with him it was then that I had my first taste of debt, how he ever managed I will never know, he was juggling credit cards all over the place and he had huge loans he couldnt pay and it was spiraling out of control.
So I then decided to take over the monthly accounts as such and found it a real struggle, until I found a company called the cccs, they are a company that eases financial difficulty and helps to deal with companys you owe money to, as the best thing you can do is to stay in regular touch with people you owe.
We were paying out nearly all our income before this company took us on and only had £10 per week for our food, and once they had sorted out what we needed to live on comfortably, we were paying each creditor a £1 and it was a huge relief, and when I had finished paying all amounts off over the years I was so happy, and vowed I would never allow myself get in that position again.
Since then me and my husband split but I now make sure I sort my money out each and every month so I know what ive left and even have savings now. Its so nice to know my bank balance isnt red anymore.
I also have 18 survey sites online that I do and 3 cashback sites and 3 review sites so I am able to earn a little extra on top of my wages which I always save, apart from the vouchers I use them to buy my daughter a few little extras, dont get me wrong I will never be rich from these sort of sites but it all helps especially with the credit crunch upon us.
My advice to anyone is to spend carefully and try not to take too much on, and if possibe try to save a little here and there its amazing how quickly it builds.
And there is a way out of debt, im living proof, just get help before its too late.
On my return from working in Australia for the cliché 'year out' I lived in London with some mates I met out there so I could work in the capital for a bit to get some quick cash. My first job was an admin temp job for a big American investment bank on the new trading floors of the soon to be Canary Wharf. I briefly wore one of those garish stripped jackets and although I didn't do any high pressure trading type stuff the job was pressure packed to say the least, bombing around running bits of paper and print-outs to make sure all the trade receipts were booked in by the brokers. In those days Goldman Sachs were one of the more ruthless investment banks and were actively doing then what the guys and girls are sadly doing today in trying to collapse the opposition's banks through ruthless selling. Sachs bought down Morgan Grenfell and then Kleinworth Benson, two of Britain's biggest merchant banks in the 1990s, both carcasses tripped and then sold on to big German banks. Every time a British bank went down the predominately American brokers would jump on their trading desks and celebrate rather arrogantly. So how sweet it was that the Wall Street investment goliaths that bought down our great institutions are now the same ones crashing down like their ancient Giant Redwood trees, Goldman Sachs also likely to crumble if this massive US government move to buy up the bad mortgage debt doesn't work. This is a cutthroat business with these guys, capitalism having no friends and always relentless.
Michael Douglas's Gordon Geco character in Wall Street said: greed is good. Well it clearly isn't as the world goes through its worse financial crisis since the great Wall Street Depression of the 1930s. It's also very ironic that if Barak Obama does win the Whitehouse with those poor black democrat votes, they are the same guys and girls who caused the sub-prime debt crisis in the first place with acceptance of reckless mortgages, and that could bring him down if the cotangent takes hold again next year.
- - - - -
This is a sketch paragraph from the satirist Bird and Fortune who appear in Rory Bremners now rather tired and predictable C4 TV show. It was featured in a Times article about the core of the sub-prime issue.
"Imagine, if you can, an unemployed black man sitting on a crumbling porch somewhere in Alabama in his string vest and chap comes along and says would you like to buy this house before it falls down and why don't let you let me lend you the money? Then this mortgage is bought by a bank and packaged together on Wall Street with a lot of other similar debts. Some how this package of dodgy debts stops being a package of dodgy debts and starts being what we call a 'structured investment vehicle". I buy it and then I will ring up somebody in Tokyo and say 'Look I've got this package do you want to buy it?' and I say 'a hundred million dollars and then they say 'fine' and that's it. That's the market"
(Bird, Bremner and Fortune, 2008)
George Parr aside we are where we are because the housing bubble has 'popped'. Pretty much anyone who wanted to buy a house was allowed to and now there's not enough money in the banking system to pay for it because the debt outweighs the property assets and so those property prices tumble more - and so the bad debt increases. Because pretty much everyone in the chain when selling property received bonuses then no one was going to admit it was bad thing. The debt was hidden at the end of the chain by bundling it in with other more lucrative debts in complex banking trades called derivatives. The theory was that these bundles would become more valuable as the house prices continued to rise and so paradoxically they couldn't fail. How wrong they were. The realtors ran out of people to sell to who could maintain payments on those properties so started to sell to unemployed people in Middle America to keep those bonuses coming in for them and the next person up. They knew full well what they were doing was wrong. As that debt was still being fired up the chain and effectively hidden then everyone in that chain was still earning a bonus. The poor black man got a house for one hundred grand he could never pay off in the long run but the 120% mortgage still allowed him to make the first payments with the 20 grand cash in the hand in that deal. Irresponsible lending isn't the half of it. This was happening in the U.K. too and that's why Northern Rock was exposed. The bonuses kept coming in the tertiary sector, until, that is, there was no more money to lend and the banks wanted to know how much of this hidden debt was out there. Now they don't trust each other and so don't lend to each other as they all know this debt is huge because they all holding that huge debt. They tried to write it off but that didn't work. They tried to steer through the storm but great galleons are being sunk. The only option left is to declare that debt and the government to buy most of it up so banks start lending to each other and so the tax payer of you and me pay again. We then start this all over again.
I think Bush has been quite cute with his proposed rescue plan as part of his polices have always been to continue to privatize government. As his estimated $700 billion dollar bail out will be taxpayers money he can now start cutting even more public sector jobs and hand over whole departments to Halliburton and co, a big weight handed on to the next US President, but another banana for you guessed it-the stock market and the bankers.
Whose fault was it?
We collectively love to blame the greedy banks and traders for this meltdown but the reality is we accepted those five or six credit cards and many of us took on mortgages we could never afford.
If you imagine how many people have done that in the UK and then times that cash amount by ten in America. We all accepted money we didn't have to pay back and that's why we are in the s**t. If you're a poor black American, or indeed a Hispanic immigrant or redneck at the bottom of the pile and on welfare and someone says you can buy that house for a 100 grand with a 120% mortgage-then you're going to say yes please. It was the proletariat that was just as irresponsible as the banks. We are all greedy by nature and we must accept that. The more credit we demanded the more risks the banks had to take. Yes the tax payer will again bail out the banks and all this will start over again but next time only borrow money you can pay back or the crisis will be far worse. I know people who took out as much credit as possible to pay for mortgages that they knew they could never pay off. In fact two of the much lorded Dragons from Dragons Den both owned up in their biographies that they too took out £50k from five different credit cards in the early nineties to start up their businesses. Everyone is doing it, as are the markets right now. Debt is not bad it's the economy stupid. In fact Blair kept Britain out of serious recession by letting the banks gives us ten credit cards each to meet the bills. Don't you find it weird that anything bought on credit card is insured 100% yet anything bought on our current account debit cards isn't, yet the same banks who wont cover the debit cards own the credit cards?
The traders, of course, base their job on greed. If they don't earn, our pension pots don't earn. When I caught up with some mates from London about three years ago they told me they were raking it in. To get around British tax laws aimed at thinning their huge bonuses they were being paid in various commodities and currencies to do just that. One of the guys was paid in 'rope' and another in 'cheap Italian champagne'. They didn't actually receive the goods but used the trade/cash value to circumnavigate Gordon Browns officious tax regime. These things were tax deductible and so they quickly bought and sold them to collect their bonus. These guys know the score and always make money. Brown recently closed this loop-hole.
When Insurance giant U.I.G. fell and was only stopped from hitting the ground and breaking into a thousand pieces by the US Treasury it got really scary as we have yet to see the losses from the people who insured the toxic waste of those so called 'sub prime losses'. Sub prime losses are quite simply unrecoverable debts. U.I.G. gets 80 billion from Bush but it lost 13 billion in the last 6 months and will continue to as the house price falls. You all know the only way to stop those housing prices falling. That fatal cycle is still there.
Gordon Browns move to stop 'short-selling' came too late for HBOS, though, a relatively financially sound bank bought down by the same type of predators that pushed up the oil price to that damaging all-time high of $147 from its £11 low when Blair won power in 1997. Short-selling is roughly when one trader borrows a share from another and promises to give it back at a specific time, both parties hoping to see the share rise or fall in that time. He or she does this because they are confident the share price will fall in value and they pocket the difference. Next week you will see airlines being targeted as they struggle against high fuel costs. So, for example, if they borrowed HBOS shares at say £5 and new the bank share would fall because of the mortgage crisis and then gave them back 48 hours later for £2 they make three pounds per share. It's a lucrative business. Because the big hedge funds get in on the action as one big gang when they smell weakness and fear in the market then the targeted bank share price can't defend itself and will fall. HBOS even allowed its own investment arm to short sell its own shares to make money off their own troubles. That is the truest example of capitalism. The beauty of this type of selling is it's often a double whammy as you know the bank in question is quite healthy and at worst it will go broke and you can then pile in on the bank that buys or merges with it, or you buy the shares when you know the bank will survive and so return to its original share levels of £5. Like I said, the good traders with the big budgets just can't lose these days.
Is there hope...?
I don think the recession will be as big as they say. Firstly the Footsie market two years ago was under 4000 yet today it's over 5000 after a record Friday rise of 456 points. After 911 it was near 3000. The economy, apart from housing-and obviously banking- here is pretty resolute. In fact three of the last four months retail sales have been up. People who can't get on the housing ladder are staying home with their parents to wait it out and spending that £500 a month in the shops instead.
The point here is the recent fear of high fuel prices and poor weather have cancelled each other out, people staying home and so fuel sales fell and the pressure on prices or so fell. A barrel of oil fell below $90 last week, a fall of $57 since the June high. This is really good news for your jobs. A high oil price is often a sign of a healthy economy and I think the price will settle around $60-70 dollars by Christmas. Your petrol price took its time to fall this month because the pound was very weak against the dollar and all oil trades are made in dollars. Commodity prices are also falling along with grain prices after global warming hype is now dying down with the international slowdown. Man Made Global warming hype got so big that countries planted too much grain to help increase eco fuels and so when the storms came they ruined by extra crops. World temps have actually fallen slightly since 2000, even though CO2 levels continue to rise. Some scientists feeling their grants slip away have announced that there could be a13 year cooling period.
So if the basic commodities are falling then markets can get moving. If the American government does hoover up some of this toxic mortgage debt then the banks can start lending to you and me and each other again. A new government here and across the pond will also help for a fresh start.
My perditions for the end of 2008
Petrol price down
Food prices to level out
Mortgage bills to shoot up
Interest rate cuts for Christmas run up
Inflation to fall to 3.9%
Money Vs Plastic!!
I must say I do love money and prefer it to cards. I don't know about anyone else but I always seem to spend soo much more when I am spending using my cards. When you have money in your pocket you can actually see what your spending and it limits you in a way which bank cards do not. With the way society is at the moment everything seems to be card/plastic related, from paying for petrol at the pump to shopping online.
Although I do prefer to spend with money, cards are so much more convinient, convinient as you don't have to carry large amounts of cash around with you.
By carrying cards instead of money I suppose its harder for criminals to get your cash, however if your bank card was stolen you could find yourself with absolutley nothing as they could quite easilly use your card online you had no choice but to go to the shop and buy your goods,
Plastic also prevents social interaction, when you have to depend on buying with cash you however, nowadays you can buy virtually everything on the internet and this must restrict our social interaction with other human beings???
Overall I think I am a money person, but I think eventually I will have to cave in and use the technology like most people do
money. is it all its meant to be. i think money is the route to all evil. if you dont have money it gets you down, and if you do have money you waste it. i think that things are priced to high these days, so if something new comes out and you want it to be in with the crowd, you are usually out of pocket.
money isnt all bad though you do need it to survive. it can give you a good social life and you can make new friends. i think that having too much money is a bad thing.
money can buy you happiness for a short period, and when the monery runs out its over. i dont think that people should flash their money around like some people do.
money is nice to have but not all the time. people take money too seriously these days.
Money is blamed for lot of things but if you think about it we all work hard to make more of it. Without money life would be very difficult. Earning money and spending it makes some people happy, for most money is essential to survive, those with millions under their name enjoy life even better because money gives them the ability to buy anything they like. Money is no substitute for healthy life or to make one socially successful. I mean look at Howard Hughes he had billions of dollars yet lived like a mad man. So money doesnt make a person happy it helps to live an easy life assuming one is lucky and clever in life.
Happiness comes from a content person and that doesnt require money. Money has become more important as we in the west and elsewhere have moved towards a consumer society which eats money for lunch.
Money make the world go around, in a perfect world this would not be true, we would all like our lives exactly as we like, and never need to worry about how much everything costs, working to earn or saving to buy. However this is not a perfect world and earning, spending and saving money is part of all our lives whether we like it or not.
I work 9 til 5, 7 days a week, I enjoy my job (most of the time) but lets be honest if money wasn't an issue then I would probably work less, play more and my life would be a lot less stressful. As it is I save a percentage of my earnings each week for the house I want, and another for my holiday and another for a rainy day.
Like everyone else I enjoy a good bargin, and like it when I feel that I have saved money, kept the extra little bit in my pocket.
I like many other owe quite a bit in Students loans from my days at university, but I have yet to owe on mortgages and children (too major expenses I am looking forward to).
Where there is money there is inevitably debt, so I am going to talk a little bit about the type of debt I know - Student Loans.
As the freshers are just settling into their first year at university, making friends and learning about drinking at the student union, their priorities do not include the huge amounts of money that they have just borrowed. Yes borrowed - because now a days it all has to be paid back. Plus all of the additional debt that they will probably rack up over the next 3 years.
The sensible student should be setting themselves a realistic budget and sticking to it, but how many 18 year old university first years are sensible.
That you will be a borrower at university is inevitable. Tuition fees alone are now over £3,000 a year and students need to live and pay rent too. So unless you are from a wealthy family, debt is a given.
My advice on how to keep your head above water
Get a job early: The first year of your course is when you are likely to have the most spare time, so make use of it and earn some money.
Keep credit cards for emergencies only: This expensive form of borrowing should not be used for general spending.
Avoid high-street store cards: With interest rates of 30 per cent or more, this plastic is a luxury you can do without.
Keep in contact with your bank: If you run into trouble, ask whether you can extend your overdraft limit.
Apply for a hardship fund: If you are in real financial trouble, non-repayable funds should be available direct from your university to help you continue your studies.
After university the stress of money continues and so it is important to get it right when you are there. At the moment I am looking into buying a house and trying to save as big a down payment as I can. However, with house prices are very high at the moment and not looking like dropping any time soon, this is a harder job than it sounds.
I am a pretty good saver and I still worry about money, so I can not image the stress and worry it must cause people who have serious financial troubles. It is extremely easy now-a-days to get yourself into debt, with credit cards, loans and buying things on credit, people can very easily got into trouble without realising it. I have found a great website with advice on dealing with debt at http://www.idealds.co.uk/more_info.asp?current_id=57.
It would be lovely if money grew on trees but unfortunately it does not. So until evolution catches up with our spending habits, saving, planning and being a little bit careful with out money should see us through.