NATIONAL Australia Bank chief executive Cameron Clyne stands to be awarded almost $4 million worth of bonuses.
The bank's shareholders willvote on the grant of performance rights to Mr Clyne and the bank's director of finance Mark Joiner in December, just months after NAB posted a 22 per cent drop in full yearnet profit to $4.08 billion.
Mr Clyne stands to be awarded up to $1.2 million in NAB shares under short-term incentives, and up to$2.7m in shares as part of long-term incentives.
Mr Joiner could be granted shares worth more than$1.5m.
The long-term incentive performance rights will be subject to the achievement of a performance hurdle, NAB said in its notice of annual general meeting issued today.
Sunday, 11 November 2012
Know how Islamic Banking operate.
A. INTRODUCTION
With the rapid growth of the world-wide economy along with the expanding economy in the Islamic countries, Islamic banking isevolving to play a vital role in the world. The principlesof Islamic banking differ substantially from those of conventional financing by traditional financial institutions. Islamic principles prohibit usury, the conducting any business involving Riba (interest), i.e. collection or payment of interest, under the Syariah law (Islamic law). Therefore Islamic banks were, during the Middle Ages, functioning essentially as savings institutions rather than commercial banks.
B. LAW AND PRINCIPLE
The principles of Islamic banking were derived fromthe Quran (the revealed book of Muslims) and the Prophet Muhammad (pbuh)and are governed by Shariah law (Islamic law). Islamic law besides prohibiting the payment and/or collection of interests, regardless of the purpose for which loans aremade and the rates at which interests are charged,also prohibits activities dealing with liquor, pork, gambling, pornography and anything which Islamiclaw deems Haram (unlawful).
Islamic banking is instrumental to the development of an Islamic economic order which ensures social justice, such as forbidding all forms of economic activities which are morally or socially injurious, ensuring ownership of wealth legitimately acquired, allowing an individual to retain any surplus wealth and seeking to prevent the accumulation of wealth in a few hands to the detriment of society as a whole through its laws of inheritance.
C. STRUCTURING ISLAMIC PRODUCTS
The commercial purpose of Islamic banking is the same as conventional banking butit needs to operate within the principles stated above. Due to the rules of Shariah, Islamic finance products areoften based on the principles of risk-sharing and profit-sharing. Commonconcepts used are profit sharing (Mudharabah), safekeeping (Wadiah), joint venture (Musharakah), cost plus (Murabahah) and leasing (ljarah). Such sharing principles can provide acceptable financialreturns to investors by providing potential profit inproportion to the risk assumed. This type of structured products can satisfy the demands of investors in the contemporary environment within the guidelines of theIslamic Law. The most activefinancing provided are in the areas of trade, commodity finance, property and leasing.
Also, Islamic financing is only permissible to acceptable deals which exclude those involving alcohol, pork, gambling, etc.Therefore ethical investing is the only acceptable form of investment for Muslims.
With the rapid growth of the world-wide economy along with the expanding economy in the Islamic countries, Islamic banking isevolving to play a vital role in the world. The principlesof Islamic banking differ substantially from those of conventional financing by traditional financial institutions. Islamic principles prohibit usury, the conducting any business involving Riba (interest), i.e. collection or payment of interest, under the Syariah law (Islamic law). Therefore Islamic banks were, during the Middle Ages, functioning essentially as savings institutions rather than commercial banks.
B. LAW AND PRINCIPLE
The principles of Islamic banking were derived fromthe Quran (the revealed book of Muslims) and the Prophet Muhammad (pbuh)and are governed by Shariah law (Islamic law). Islamic law besides prohibiting the payment and/or collection of interests, regardless of the purpose for which loans aremade and the rates at which interests are charged,also prohibits activities dealing with liquor, pork, gambling, pornography and anything which Islamiclaw deems Haram (unlawful).
Islamic banking is instrumental to the development of an Islamic economic order which ensures social justice, such as forbidding all forms of economic activities which are morally or socially injurious, ensuring ownership of wealth legitimately acquired, allowing an individual to retain any surplus wealth and seeking to prevent the accumulation of wealth in a few hands to the detriment of society as a whole through its laws of inheritance.
C. STRUCTURING ISLAMIC PRODUCTS
The commercial purpose of Islamic banking is the same as conventional banking butit needs to operate within the principles stated above. Due to the rules of Shariah, Islamic finance products areoften based on the principles of risk-sharing and profit-sharing. Commonconcepts used are profit sharing (Mudharabah), safekeeping (Wadiah), joint venture (Musharakah), cost plus (Murabahah) and leasing (ljarah). Such sharing principles can provide acceptable financialreturns to investors by providing potential profit inproportion to the risk assumed. This type of structured products can satisfy the demands of investors in the contemporary environment within the guidelines of theIslamic Law. The most activefinancing provided are in the areas of trade, commodity finance, property and leasing.
Also, Islamic financing is only permissible to acceptable deals which exclude those involving alcohol, pork, gambling, etc.Therefore ethical investing is the only acceptable form of investment for Muslims.
Chinese slow down would hurt African growth
A slowing Chinese economymay weaken demand for Africa’s raw materials, damaging a key driver of growth for the world’s poorest continent, said Mthuli Ncube, chief economist of the African Development Bank.
“What could be a big surprise factor in Africa’s economic growth is China,” Ncube said by phone from Tunis yesterday. “If the slowdown in China reducesits demand for oil, copper and base metals, the question is how much will that impact on commodity prices. That could really hurt Africa.”
China’s commodity demandhas helped propel economic growth in sub-Saharan African nationsincluding Zambia, the region’s biggest copper exporter, Nigeria, the continent’s largest oil producer, and Congo and Gabon, which both producetimber. Economic growth in the region is forecast to accelerate to 5.5 per cent in 2013 from about 5 per cent this year, Ncube said.
China in 2010 consumed one-fifth of global non-renewable energy resources, 23 per cent of major crops and 40 per centof metals, after increasing itsmarket share “sharply” over the past decade, according to the International Monetary Fund.
While China’s expansion cooled to a three-year low of 7.4 per cent in the third quarter, gages of manufacturing and retail sales have pointed to a recovery. Growth will probably pick up to 7.7 percent this quarter and 7.9 per cent in the three months through March 2013, according to a Bloomberg survey.
European crisis
Africa is also withstanding Europe’s debt crisis, thoughgovernments are failing to ensure the growing wealth reduces poverty, Ncube said. North Africa is seeing rising oil production and strong economic policies in East and West Africa are helping buoy growth there,while South Africa, the continent’s largest economy,is facing challenges from mining- labor unrest, Ncube said.
The financial upheaval in Europe is creating an opportunity for African nations to sway Chinese investors to redirect their exports and investment, said Ncube.
“If China is looking for new markets for its exports then Africa could benefit, the same for investment,” he said.
Trade between Africa and China is currently worth$166 billion after growing 30 per cent in 2011 and 25 per cent in the first half of this year, according to Jeremy Stevens, a Beijing- based economist at Standard Bank Group, Africa’s biggest lender.
Bloomberg
“What could be a big surprise factor in Africa’s economic growth is China,” Ncube said by phone from Tunis yesterday. “If the slowdown in China reducesits demand for oil, copper and base metals, the question is how much will that impact on commodity prices. That could really hurt Africa.”
China’s commodity demandhas helped propel economic growth in sub-Saharan African nationsincluding Zambia, the region’s biggest copper exporter, Nigeria, the continent’s largest oil producer, and Congo and Gabon, which both producetimber. Economic growth in the region is forecast to accelerate to 5.5 per cent in 2013 from about 5 per cent this year, Ncube said.
China in 2010 consumed one-fifth of global non-renewable energy resources, 23 per cent of major crops and 40 per centof metals, after increasing itsmarket share “sharply” over the past decade, according to the International Monetary Fund.
While China’s expansion cooled to a three-year low of 7.4 per cent in the third quarter, gages of manufacturing and retail sales have pointed to a recovery. Growth will probably pick up to 7.7 percent this quarter and 7.9 per cent in the three months through March 2013, according to a Bloomberg survey.
European crisis
Africa is also withstanding Europe’s debt crisis, thoughgovernments are failing to ensure the growing wealth reduces poverty, Ncube said. North Africa is seeing rising oil production and strong economic policies in East and West Africa are helping buoy growth there,while South Africa, the continent’s largest economy,is facing challenges from mining- labor unrest, Ncube said.
The financial upheaval in Europe is creating an opportunity for African nations to sway Chinese investors to redirect their exports and investment, said Ncube.
“If China is looking for new markets for its exports then Africa could benefit, the same for investment,” he said.
Trade between Africa and China is currently worth$166 billion after growing 30 per cent in 2011 and 25 per cent in the first half of this year, according to Jeremy Stevens, a Beijing- based economist at Standard Bank Group, Africa’s biggest lender.
Bloomberg
India to probe black money Bank claims.
A day after Indian activist Arvind Kejriwal accused it of inaction over black money allegedly stashed away in HSBC Bank in Geneva, government on Saturday said investigations are in progress with tax authorities to obtain more information regarding the reported account holders.
Without naming either the bank or the account holders involved, Indian government came out with a statement saying that appropriate action has been taken on these cases based on information received last year from the French government.
"And further including assessment, tax collection and levy of penalty will be taken as per the provisions ofthe Income Tax Act, 1961 and based on the facts of theeach case", said a statement issued on behalf of the Department of Revenue of the Finance Ministry.
The statement comes in the wake of allegations levelled by India Against Corruption (IAC) activist Kejriwal and lawyer Prashant Bhushan that government has taken no action on the information provided purportedly on 700 account holders in HSBCGeneva by the French government.
They had also named top industrialists and a politician as having parked their money to the tune of R s. 6000 crore in the bank.
The official statement merely said that information was received in June last year bythe government from its counterpart in France relating to certain bank accounts reportedly held by certain individuals and non-individuals in a foreign bank.
Reference to this matter was made by the then Finance Minister during the course ofthe debate on adjournment motion in the Lok Sabha on December 14. Subsequently,answers to question on this matter were furnished in theRajya Sabha on August 23 this year.
"Information was received inJune, 2011 by the Government of India from the Government of France relating to certain bank accounts reportedly held by certain individuals/ non-individuals in a foreign bank", the statement said.
"Information received from the Government of France has been analysed and investigations into the information have been undertaken by the different jurisdictional authorities under the Income Tax Act 1961", it said.
The statement said it would be pertinent to point out thatthe information received from France is covered by the confidentiality clause under the Double Taxation Avoidance Convention (DTAC) between India and France and can be used onlyfor the tax purposes specified there in.
Without naming either the bank or the account holders involved, Indian government came out with a statement saying that appropriate action has been taken on these cases based on information received last year from the French government.
"And further including assessment, tax collection and levy of penalty will be taken as per the provisions ofthe Income Tax Act, 1961 and based on the facts of theeach case", said a statement issued on behalf of the Department of Revenue of the Finance Ministry.
The statement comes in the wake of allegations levelled by India Against Corruption (IAC) activist Kejriwal and lawyer Prashant Bhushan that government has taken no action on the information provided purportedly on 700 account holders in HSBCGeneva by the French government.
They had also named top industrialists and a politician as having parked their money to the tune of R s. 6000 crore in the bank.
The official statement merely said that information was received in June last year bythe government from its counterpart in France relating to certain bank accounts reportedly held by certain individuals and non-individuals in a foreign bank.
Reference to this matter was made by the then Finance Minister during the course ofthe debate on adjournment motion in the Lok Sabha on December 14. Subsequently,answers to question on this matter were furnished in theRajya Sabha on August 23 this year.
"Information was received inJune, 2011 by the Government of India from the Government of France relating to certain bank accounts reportedly held by certain individuals/ non-individuals in a foreign bank", the statement said.
"Information received from the Government of France has been analysed and investigations into the information have been undertaken by the different jurisdictional authorities under the Income Tax Act 1961", it said.
The statement said it would be pertinent to point out thatthe information received from France is covered by the confidentiality clause under the Double Taxation Avoidance Convention (DTAC) between India and France and can be used onlyfor the tax purposes specified there in.
Saturday, 10 November 2012
The Role Of Life Insurance
Insurance is one of life's necessities and probably the least-understood financial product. Insurance reimburses people for covered losses in the event of an unfortunate occurrencesuch as an illness, accident, or death. At the same time, itcan encourage prevention and safety measures, provideinvestment capital, lend money, and help to reduce anxiety for society at large.
As a mechanism against loss of income and a means of safeguarding assets, most Americans have insurance in one form or another. These coverage's may include public coverage, such as disability insurance under Social Security, a health care policy from an employer, or personal insurance to protectproperty such as computers, homes, and cars.
You may save money in yourpension and other investments and have capitalin your home. But if you don't know exactly what your life insurance policy covers or have only glanced at your employer-provided health and disability insurance policies, you're neglecting an important aspect of your financial plan.
Until something happens, such as a car accident, an illness, or the death of a loved one, paying for insurance may seem like buying something you'll never use. But even if you never submit a claim, insurance is an investment inyour future, as important as pensions and personal investments. Indeed, many financial planners argue that you should have an adequate insurance safety net in place before considering investment strategies.
The function of insurance is to protect you against losses you can't afford. This is doneby transferring the risks of a person, business, or organization -- the "insured"-- to an insurance company, or "insurer." The insurer then reimburses the insured for "covered" losses - i.e., those losses it pays for underthe policy's terms.
As the insurance consumer, you pay an amount of money, called a premium, to the insurer to transfer the risk. The insurer pools all its premiums into a large fund, and when a policyholder hasa loss, the insurer draws funds from the pool to pay for the loss.
Life is full of unexpected events that can create large financial losses. For example, whenever you drive, it is possible that you may have acostly accident. Risks affect you by causing worry about potential loss and how to deal with the consequences. Insurance reduces anxiety over a possible loss and absorbs the financial brunt ofits consequences.
However, while insurance coverage is essential, how much and what type of insurance people need differwith each individual. You must decide how much risk you're willing to tolerate without insurance. For example, benefits for disability policies typically begin after a waiting period of one to six months. Therefore, you should ensure that you have some form of coverage or financial resources before the policy period begins.
As a mechanism against loss of income and a means of safeguarding assets, most Americans have insurance in one form or another. These coverage's may include public coverage, such as disability insurance under Social Security, a health care policy from an employer, or personal insurance to protectproperty such as computers, homes, and cars.
You may save money in yourpension and other investments and have capitalin your home. But if you don't know exactly what your life insurance policy covers or have only glanced at your employer-provided health and disability insurance policies, you're neglecting an important aspect of your financial plan.
Until something happens, such as a car accident, an illness, or the death of a loved one, paying for insurance may seem like buying something you'll never use. But even if you never submit a claim, insurance is an investment inyour future, as important as pensions and personal investments. Indeed, many financial planners argue that you should have an adequate insurance safety net in place before considering investment strategies.
The function of insurance is to protect you against losses you can't afford. This is doneby transferring the risks of a person, business, or organization -- the "insured"-- to an insurance company, or "insurer." The insurer then reimburses the insured for "covered" losses - i.e., those losses it pays for underthe policy's terms.
As the insurance consumer, you pay an amount of money, called a premium, to the insurer to transfer the risk. The insurer pools all its premiums into a large fund, and when a policyholder hasa loss, the insurer draws funds from the pool to pay for the loss.
Life is full of unexpected events that can create large financial losses. For example, whenever you drive, it is possible that you may have acostly accident. Risks affect you by causing worry about potential loss and how to deal with the consequences. Insurance reduces anxiety over a possible loss and absorbs the financial brunt ofits consequences.
However, while insurance coverage is essential, how much and what type of insurance people need differwith each individual. You must decide how much risk you're willing to tolerate without insurance. For example, benefits for disability policies typically begin after a waiting period of one to six months. Therefore, you should ensure that you have some form of coverage or financial resources before the policy period begins.
Vikram Pandit to receive$15m from Citigroup
Former Citigroup chief executive Vikram Pandit, who stood down last month, will get more than $15m (£9.4m) as part of a settlement with the banking giant.
John Havens, the chief operating officer who resigned at the same time, will receive a similar amount.
The payments were disclosed in filings to the Securities and Exchange Commission late on Friday.
At the time of the resignations there were reports of disagreements with investors over Citi's strategy.
Mr Pandit's payments include $6.65m for incentivepay for work in 2012 and deferred stock and cash incentive awards valued at$8.83m.
Mr Havens' payments include $6.79m for 2012 and $8.73m worth of deferred stock and cash incentive awards for work in 2011 and 2008.
"Vikram and John made significant contributions to Citi during their five years of service," Citigroup chairman Michael O'Neill said in statement included in the filing.
Mr Pandit resigned on 15 October, a day after Citi reported an 88% drop in quarterly profits to $468m.
In a conference call at the time, Citi chairman Michael O'Neill said Mr Pandit's departure was not due to any "strategic, regulatory or operating issue".
He added: "Vikram offered his resignation and the board accepted it."
John Havens, the chief operating officer who resigned at the same time, will receive a similar amount.
The payments were disclosed in filings to the Securities and Exchange Commission late on Friday.
At the time of the resignations there were reports of disagreements with investors over Citi's strategy.
Mr Pandit's payments include $6.65m for incentivepay for work in 2012 and deferred stock and cash incentive awards valued at$8.83m.
Mr Havens' payments include $6.79m for 2012 and $8.73m worth of deferred stock and cash incentive awards for work in 2011 and 2008.
"Vikram and John made significant contributions to Citi during their five years of service," Citigroup chairman Michael O'Neill said in statement included in the filing.
Mr Pandit resigned on 15 October, a day after Citi reported an 88% drop in quarterly profits to $468m.
In a conference call at the time, Citi chairman Michael O'Neill said Mr Pandit's departure was not due to any "strategic, regulatory or operating issue".
He added: "Vikram offered his resignation and the board accepted it."
Exxon shuts pipeline after oil leak offshore Nigeria
ABUJA (Reuters) - Exxon hasshut a pipeline off the coast of Nigeria 's Akwa Ibom state after an oil leak started by anunknown cause, the company's local unit said on Saturday.
The U.S. major's outage will add to production problems in Africa's biggest crude exporter, after fellow oil majors Shell and Eni reportedrecent disruptions at onshoresites due to Nigeria's worst flooding in 50 years.
"( Exxon Nigeria ) confirms that on November 9 an oil release occurred offshore Akwa Ibom State," Mobil Producing Nigeria , a joint venture between Exxon and the state oil firm, said in an emailed statement.
"The source of the leak was identified and the pipeline was isolated and shutdown."The company said it was investigating the cause of theleak but didn't give any details on the amount of oil production lost.
There was an oil spill in August near an Exxon facilitythat residents said left a slick running for miles along the coastline of Akwa Ibom. Exxon said it cleared up the spill but didn't confirm the source of the leak.
Italian oil firm Eni said on Friday it had declared force majeure on Brass River oil loadings from Nigeria due tofloods, which have submerged part of the southern oil-producing Niger Delta in recent weeks.
Flooding combined with oil theft, prompted Shell to declare force majeure on twoother large Nigerian oil streams, Bonny Light and Forcados, in late October.
Oil spills are common in Nigeria's onshore Niger Delta due to widespread theft by oil gangs tapping into pipelines and the poor maintenance of some ageing infrastructure.
But offshore spills are less common. Last December, an accident at Shell's offshore Bonga facility spilled an estimated 40,000 barrels, oneof the largest in Nigeria's history.
Nigerian regulators told parliament in July that Shell should be fined $5 billion for environmental damaged caused by the spill but the company has said there is nolegal basis for the fine.
The U.S. major's outage will add to production problems in Africa's biggest crude exporter, after fellow oil majors Shell and Eni reportedrecent disruptions at onshoresites due to Nigeria's worst flooding in 50 years.
"( Exxon Nigeria ) confirms that on November 9 an oil release occurred offshore Akwa Ibom State," Mobil Producing Nigeria , a joint venture between Exxon and the state oil firm, said in an emailed statement.
"The source of the leak was identified and the pipeline was isolated and shutdown."The company said it was investigating the cause of theleak but didn't give any details on the amount of oil production lost.
There was an oil spill in August near an Exxon facilitythat residents said left a slick running for miles along the coastline of Akwa Ibom. Exxon said it cleared up the spill but didn't confirm the source of the leak.
Italian oil firm Eni said on Friday it had declared force majeure on Brass River oil loadings from Nigeria due tofloods, which have submerged part of the southern oil-producing Niger Delta in recent weeks.
Flooding combined with oil theft, prompted Shell to declare force majeure on twoother large Nigerian oil streams, Bonny Light and Forcados, in late October.
Oil spills are common in Nigeria's onshore Niger Delta due to widespread theft by oil gangs tapping into pipelines and the poor maintenance of some ageing infrastructure.
But offshore spills are less common. Last December, an accident at Shell's offshore Bonga facility spilled an estimated 40,000 barrels, oneof the largest in Nigeria's history.
Nigerian regulators told parliament in July that Shell should be fined $5 billion for environmental damaged caused by the spill but the company has said there is nolegal basis for the fine.
Goldman in settlement talks with U.S. over trading loss
(Reuters) - Goldman Sachs Group Inc is in settlement talks with the U.S. government over an $8.3 billion position that one of the investment bank's traders had concealed five years ago, according to a published report.
The Financial Times said a settlement with the U.S. Commodity Futures Trading Commission , which regulatesU.S. futures and options markets, is expected in the coming weeks, citing two sources familiar with the plans.
Goldman declined to comment and the CFTC could not be reached for comment.
The planned settlement follows Thursday's announcement from the regulator that accused ex-Goldman trader Matthew Marshall Taylor of hiding a large position in S&P 500 e-mini futures contracts. Taylor has denied the accusations, his lawyer said on Thursday.
The Financial Times said a settlement with the U.S. Commodity Futures Trading Commission , which regulatesU.S. futures and options markets, is expected in the coming weeks, citing two sources familiar with the plans.
Goldman declined to comment and the CFTC could not be reached for comment.
The planned settlement follows Thursday's announcement from the regulator that accused ex-Goldman trader Matthew Marshall Taylor of hiding a large position in S&P 500 e-mini futures contracts. Taylor has denied the accusations, his lawyer said on Thursday.
Friday, 9 November 2012
10 Tips & Ideas of wise Money saving
1. Here's another old adage -"One man's trash is another man's treasure." Before you decide to trash something, find out if it hasvalue. Sell it at Ebay, CraigsList, sell it on consignment, or sell it at a garage sale. You can alwaysthrow it away later if it doesn't sell!
2. When you need to buy, shop and save by planningyour shopping trips in entirety.
*. Always comparison shop for large ticket items. Subtract coupon and rebate offers from prices before you buy and check sale priced items against competition's regular priced items to see if the offered discount really is a bargain.
*. Buy groceries and department store items at the store that offers the most savings overall. With gas prices these days, it justisn't practical to drive across town to save a nickelon a can of vegetable soup.
*. If you wouldn't buy it without a coupon, don't buy it with one. If you are shopping with coupons, besure to check and see if a comparable brand (or a generic item) is less expensive even with no coupon. If it is, toss that coupon out. You won't be needing it!
*. Using a shopping list can eliminate return trips for forgotten items and also help you resist impulse buying. Crossing off items as you find them lets you know when it's time to go to the checkout.
3. Pay attention to fees when withdrawing cash at ATMs with debit cards. Look for ATMs that offer free cash withdrawals.
4. Credit card balance transfers and debt consolidation offers may look very lucrative at first glance, but before you transfer that balance or rollyour debts into one loan, make sure the total package, including fees and future interest rates adds up on the plus side of your budget. The FTC (Federal Trade Commission) has a wealth of tips on finding and doing business with reputable companies.
5. Many insurance companies offer significant discounts when you bundle your insurances with them. Before you decide to purchase lower priced vehicle insurance, add up the totals for house (or renters), vehicle, life, and medical insurance policies and go with the company or companies that offer the best overall plan.
6. Useful utility savings.
*. Set your thermostat to the temperature where you feel most comfortable and leave it there. Furnace and air conditioner stops and starts are big power drains, especially when they needto reheat or re-cool your home.
*. Before you turn on air conditioning in warm weather months, spend a few days with open windows and doors.
*. Before you turn up the heat, put on a sweater. When sitting idle while reading or watching television, stay cozy with a lap robe or small blanket.
*. Turn off the lights when they're not in use.
*. Turn off your computer when you're finished for the night.
7. Consider going cell phone(or landline) only. Internetservices like Skype offer affordable ways to reach out and talk to someone.
8. Cable and satellite dish television connections are wonderful luxuries. However, do you really need 30 premium channels? Frequently check with your provider to see if new packages might better suit your needs at a lower price.
9. Keep your checkbook in balance. Aside from the embarrassment of reclaiming a bad check, bank and merchant overdraft fees can quickly bust your budget.
10. Track your spending for 30 days. Then decide what items you are willingto sacrifice to save money.
2. When you need to buy, shop and save by planningyour shopping trips in entirety.
*. Always comparison shop for large ticket items. Subtract coupon and rebate offers from prices before you buy and check sale priced items against competition's regular priced items to see if the offered discount really is a bargain.
*. Buy groceries and department store items at the store that offers the most savings overall. With gas prices these days, it justisn't practical to drive across town to save a nickelon a can of vegetable soup.
*. If you wouldn't buy it without a coupon, don't buy it with one. If you are shopping with coupons, besure to check and see if a comparable brand (or a generic item) is less expensive even with no coupon. If it is, toss that coupon out. You won't be needing it!
*. Using a shopping list can eliminate return trips for forgotten items and also help you resist impulse buying. Crossing off items as you find them lets you know when it's time to go to the checkout.
3. Pay attention to fees when withdrawing cash at ATMs with debit cards. Look for ATMs that offer free cash withdrawals.
4. Credit card balance transfers and debt consolidation offers may look very lucrative at first glance, but before you transfer that balance or rollyour debts into one loan, make sure the total package, including fees and future interest rates adds up on the plus side of your budget. The FTC (Federal Trade Commission) has a wealth of tips on finding and doing business with reputable companies.
5. Many insurance companies offer significant discounts when you bundle your insurances with them. Before you decide to purchase lower priced vehicle insurance, add up the totals for house (or renters), vehicle, life, and medical insurance policies and go with the company or companies that offer the best overall plan.
6. Useful utility savings.
*. Set your thermostat to the temperature where you feel most comfortable and leave it there. Furnace and air conditioner stops and starts are big power drains, especially when they needto reheat or re-cool your home.
*. Before you turn on air conditioning in warm weather months, spend a few days with open windows and doors.
*. Before you turn up the heat, put on a sweater. When sitting idle while reading or watching television, stay cozy with a lap robe or small blanket.
*. Turn off the lights when they're not in use.
*. Turn off your computer when you're finished for the night.
7. Consider going cell phone(or landline) only. Internetservices like Skype offer affordable ways to reach out and talk to someone.
8. Cable and satellite dish television connections are wonderful luxuries. However, do you really need 30 premium channels? Frequently check with your provider to see if new packages might better suit your needs at a lower price.
9. Keep your checkbook in balance. Aside from the embarrassment of reclaiming a bad check, bank and merchant overdraft fees can quickly bust your budget.
10. Track your spending for 30 days. Then decide what items you are willingto sacrifice to save money.
Banks Found Australia full list
ADELAIDE BANK LIMITED +61 8 8300 6000
ADVANCE BANK AUSTRALIA LIMITED +61 2 9236 1511
ALLIED BANKING CORPORATION AUSTRALIA +61 2 9415 4643
AMP BANK LIMITED +61 2 9257 8444
ARAB BANK +61 2 9377 8900
ARAB BANK AUSTRALIA LIMITED +61 2 9377 8900
AUSBIL DEXIA LIMITED +61 2 9259 0200
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED. +61 3 9273 5555
AUSTRAL MORTGAGE CORPORATION +61 2 9299 1833
BANK OF AMERICA, N.A. SYDNEY +61 2 9931 4200
BANK OF CYPRUS AUSTRALIA +61 3 8627 2745
BANK OF MELBOURNE +61 3 9520 0000
BANK OF QUEENSLAND LIMITED +61 4 3212 3494
BANK OF SCOTLAND INTERNATIONAL +61 2 8299 8853
BANK OF SOUTH AUSTRALIA LIMITED +61 8 210 4758
BANK OF TOKYO-MITSUBISHI LTD. +61 2 9296 1111
BANK OF WESTERN AUSTRALIA LTD (BANKWEST) +61 1 8001 99535
BANKSIA FINALCIAL GROUP +61 3 9602 0000
BANKSMART NA
BENDIGO BANK +61 1 3003 61911
BNP PARIBAS +61 2 9216 8633
CIBC - CANADIAN IMPERIAL BANK OF COMMERCE +61 2 9275 1300
CITIBANK LIMITED +61 2 9239 9100
COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT +61 2 9273 3000
COMMONWEALTH BANK OF AUSTRALIA +61 2 9378 2000
CREDIT SUISSE (INVESTMENT BANKING) +61 2 8205 4400
CREDIT UNION SERVICES CORPORATION +61 3 9286 4536
DEUTSCHE BANK +61 3 9270 4171
ELDERS RURAL BANK +61 1 3006 60115
ENDEAVOUR CREDIT UNION +61 2 9391 8044
GE MONEY +61 3 9921 6857
GOLDMAN SACHS JBWERE PTY LTD +61 3 9 679 1111
HERITAGE BUILDING SOCIETY +61 746 90 9000
HSBC BANK AUSTRALIA LIMITED +61 2 9255 2888
ILLAWARRA MUTUAL BUILDING SOCIETY LTD +61 2 4227 9111
INDUSTRIAL AND COMMERCIAL BANK OF CHINA +61 2 9233 2233
ING BANK AUSTRALIA +61 2 9028 4000
ING BANK NV +61 2 9234 8111
INVESTEC BANK (AUSTRALIA) LIMITED +61 2 9293 2000
KEB AUSTRALIA LTD. +61 2 9251 3355
LAIKI BANK AUSTRALIA LIMITED +61 2 8262 9000
MACQUAIRE GROUP +61 3 0036 5585
MACQUARIE BANK +61 2 8232 3333
MEMBERS EQUITY BANK +61 3 9605 6701
METWAY BANK +61 7 3362 2222
NATIONAL AUSTRALIA BANK LIMITED +61 3 8641 9083
NEW ENGLAND CREDIT UNION LTD. +61 2 6776 0444
POLICE CREDIT UNION LIMITED +61 8 8208 5761
PRIMARY INDUSTRY BANK OF AUSTRALIA LIMITED NA
RABOBANK AUSTRALIA LIMITED +61 2 8115 4000
RESERVE BANK OF AUSTRALIA +61 2 9551 8111
SCHRODER INVESTMENT MANAGEMENT AUSTRALIALIMITED +61 2 9210 9200
SGE CREDIT UNION +61 2 9891 4489
STANDARD CHARTERED BANK +61 2 9232 9333
ST. GEORGE BANK LIMITED +61 2 952 1111
SUNCORP METWAY BANK LIMITED +61 7 3362 1222
THE TORONTO-DOMINIONBANK +61 2 9619 8888
UBS IN SYDNEY +61 2 9324 2000
UNITED OVERSEAS BANK LIMITED
ADVANCE BANK AUSTRALIA LIMITED +61 2 9236 1511
ALLIED BANKING CORPORATION AUSTRALIA +61 2 9415 4643
AMP BANK LIMITED +61 2 9257 8444
ARAB BANK +61 2 9377 8900
ARAB BANK AUSTRALIA LIMITED +61 2 9377 8900
AUSBIL DEXIA LIMITED +61 2 9259 0200
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED. +61 3 9273 5555
AUSTRAL MORTGAGE CORPORATION +61 2 9299 1833
BANK OF AMERICA, N.A. SYDNEY +61 2 9931 4200
BANK OF CYPRUS AUSTRALIA +61 3 8627 2745
BANK OF MELBOURNE +61 3 9520 0000
BANK OF QUEENSLAND LIMITED +61 4 3212 3494
BANK OF SCOTLAND INTERNATIONAL +61 2 8299 8853
BANK OF SOUTH AUSTRALIA LIMITED +61 8 210 4758
BANK OF TOKYO-MITSUBISHI LTD. +61 2 9296 1111
BANK OF WESTERN AUSTRALIA LTD (BANKWEST) +61 1 8001 99535
BANKSIA FINALCIAL GROUP +61 3 9602 0000
BANKSMART NA
BENDIGO BANK +61 1 3003 61911
BNP PARIBAS +61 2 9216 8633
CIBC - CANADIAN IMPERIAL BANK OF COMMERCE +61 2 9275 1300
CITIBANK LIMITED +61 2 9239 9100
COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT +61 2 9273 3000
COMMONWEALTH BANK OF AUSTRALIA +61 2 9378 2000
CREDIT SUISSE (INVESTMENT BANKING) +61 2 8205 4400
CREDIT UNION SERVICES CORPORATION +61 3 9286 4536
DEUTSCHE BANK +61 3 9270 4171
ELDERS RURAL BANK +61 1 3006 60115
ENDEAVOUR CREDIT UNION +61 2 9391 8044
GE MONEY +61 3 9921 6857
GOLDMAN SACHS JBWERE PTY LTD +61 3 9 679 1111
HERITAGE BUILDING SOCIETY +61 746 90 9000
HSBC BANK AUSTRALIA LIMITED +61 2 9255 2888
ILLAWARRA MUTUAL BUILDING SOCIETY LTD +61 2 4227 9111
INDUSTRIAL AND COMMERCIAL BANK OF CHINA +61 2 9233 2233
ING BANK AUSTRALIA +61 2 9028 4000
ING BANK NV +61 2 9234 8111
INVESTEC BANK (AUSTRALIA) LIMITED +61 2 9293 2000
KEB AUSTRALIA LTD. +61 2 9251 3355
LAIKI BANK AUSTRALIA LIMITED +61 2 8262 9000
MACQUAIRE GROUP +61 3 0036 5585
MACQUARIE BANK +61 2 8232 3333
MEMBERS EQUITY BANK +61 3 9605 6701
METWAY BANK +61 7 3362 2222
NATIONAL AUSTRALIA BANK LIMITED +61 3 8641 9083
NEW ENGLAND CREDIT UNION LTD. +61 2 6776 0444
POLICE CREDIT UNION LIMITED +61 8 8208 5761
PRIMARY INDUSTRY BANK OF AUSTRALIA LIMITED NA
RABOBANK AUSTRALIA LIMITED +61 2 8115 4000
RESERVE BANK OF AUSTRALIA +61 2 9551 8111
SCHRODER INVESTMENT MANAGEMENT AUSTRALIALIMITED +61 2 9210 9200
SGE CREDIT UNION +61 2 9891 4489
STANDARD CHARTERED BANK +61 2 9232 9333
ST. GEORGE BANK LIMITED +61 2 952 1111
SUNCORP METWAY BANK LIMITED +61 7 3362 1222
THE TORONTO-DOMINIONBANK +61 2 9619 8888
UBS IN SYDNEY +61 2 9324 2000
UNITED OVERSEAS BANK LIMITED
Subscribe to:
Posts (Atom)