by: Emelia Mahmud
There are many websites dedicated to successes of the premium bond program in Great Britain but there are also some false facts that are circulating around the net that gives premium bonds a bad name and puts out wrong information that would keep some otherwise wise investors from even purchasing their first bond. This report presents some of this wrong information so that the discerning investor can make clear and logical choices when investing their money in the premium bond system. Remember these are myths and wrong facts that have been discounted by the government agencies that were selected to monitor the actions of the National Savings and Investment agency.
One myth is that the million pound winner is always notified in person on the last day of the month after the drawing. The winner has to be at home or the prize will be given to another premium bond member or will not be given away at all. The myth also supports another. Since you have to be home to win the prize, the myth says the statistics support the idea that most people that win the million pounds are in their nineties and that they are home all the time anyway. Most people in their nineties live in a retirement community or nursing home and they would not have an address that would support the myth.
There is a ridiculous rumor that nobody has ever met a million pound winner. This myth contends that it is a government hoax and the sole purpose of this hoax is to trick people into giving their money to the government in lieu of taxes. This is completely false. Not only is there a website that lists all the million pound winners, it even lists the towns they live in and what date they won. Of course the National Savings and Interest agency is going to keep them secret because the publicity generated would destroy their privacy and make the million pounds more of a burden than a pleasure.
There is even a rumor about premium bonds and the famous British comedian Bennie Hill. Though Bennie Hill died at the age of 92, the myth says he had just won a million pound prize and he was killed by his jealous grandmother because of the money. Bennie Hill was already a wealthy man and the age of the jealous grandmother would make her about hundred and twenty years old. This does not only make sense chronologically but the woman at that age would have a hard time killing anyone.
There has even been a website posted with these myths and the challenge for anyone that has won a million pounds to come forward and dispute the myths. To this day, no one has posted on the site. This is logical because by posting they would be giving up their privacy as well as the possibility of setting themselves up for a scam. The National Savings and Investment is a sound agency that guarantees your money. These myths are just created to destroy their integrity.
Be miserable. Or motivate yourself. Whatever has to be done, it's always your choice. Make Money Not War.
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Sunday, September 11, 2011
Friday, September 9, 2011
Using Online Debt Management Services
by: Cindy Austin
Choosing to eliminate your consumer debt is the best financial decision you can make. Having excessive debt is the cause for much worry and stress. In order to free themselves from this huge burden, many consumers acquire debt consolidation loans. Unfortunately, getting a loan to consolidate debt requires a good credit rating, home ownership, or collateral. If you do not meet the criteria for obtaining a loan, online debt management services may be the way out.
What are Debt Management Services?
Debt management services are agencies that assist consumers in their endeavor to become debt free. There are two types of debt management services. These include agencies that charge a monthly fee for their services, and non-profit agencies. To avoid scams and fraudulent companies, it may be wise to select a non-profit agency.
The main goal of debt management services is to reduce your debts and put you on the path toward becoming debt free. To accomplish this goal, a representative from the agency will request information about your creditors and debt amounts. Once you submit this information, the representative assigned to your account will contact each creditor. Through negotiating, the agency will be able to get late fees waived and interest rates reduced.
After the debt management service and your creditors reach an agreement, the agency will lump all your debt into a single loan. Your existing credit accounts will be temporary frozen; thus, you are unable to acquire additional debt. If you decide to no longer use the debt management service, your accounts are unfrozen. Each month, payment is sent to the debt management agency, and not your existing creditors.
How to Choose an Online Debt Management Service?
Research and compare services before selecting a debt management agency. The internet is a valuable resource for finding information on various programs. Each program is different. Some programs require a minimum or maximum debt amount. Furthermore, other programs solely work with individuals who have several missed or late payments.
When comparing different debt management services, request quotes that include detail information pertaining to estimated payoff dates and monthly payments.
Choosing to eliminate your consumer debt is the best financial decision you can make. Having excessive debt is the cause for much worry and stress. In order to free themselves from this huge burden, many consumers acquire debt consolidation loans. Unfortunately, getting a loan to consolidate debt requires a good credit rating, home ownership, or collateral. If you do not meet the criteria for obtaining a loan, online debt management services may be the way out.
What are Debt Management Services?
Debt management services are agencies that assist consumers in their endeavor to become debt free. There are two types of debt management services. These include agencies that charge a monthly fee for their services, and non-profit agencies. To avoid scams and fraudulent companies, it may be wise to select a non-profit agency.
The main goal of debt management services is to reduce your debts and put you on the path toward becoming debt free. To accomplish this goal, a representative from the agency will request information about your creditors and debt amounts. Once you submit this information, the representative assigned to your account will contact each creditor. Through negotiating, the agency will be able to get late fees waived and interest rates reduced.
After the debt management service and your creditors reach an agreement, the agency will lump all your debt into a single loan. Your existing credit accounts will be temporary frozen; thus, you are unable to acquire additional debt. If you decide to no longer use the debt management service, your accounts are unfrozen. Each month, payment is sent to the debt management agency, and not your existing creditors.
How to Choose an Online Debt Management Service?
Research and compare services before selecting a debt management agency. The internet is a valuable resource for finding information on various programs. Each program is different. Some programs require a minimum or maximum debt amount. Furthermore, other programs solely work with individuals who have several missed or late payments.
When comparing different debt management services, request quotes that include detail information pertaining to estimated payoff dates and monthly payments.
Sunday, September 4, 2011
Labor Vis-À-Vis Multi-Factor Productivity
by: Suzanne Broadway
For a long time, when there is talk of productivity it always means labor productivity. This is the measure of the output that an hour of labor produces. Multi-factor productivity is more comprehensive than labor productivity.
Whereas labor productivity tends to focus on manufacturing (easier to quantify) rather than services, multi-factor productivity on the other hand takes the computation several levels up.
As one of the economic indicators, productivity is basically a measure of how efficiently an economy transforms its labor, capital, and raw materials into goods and services.
Conventional productivity measurement
In a car manufacturing plant, productivity measurement is straightforward. One is a physical measure where the total number of cars made in a period of time is divided by the number of worker-hours spent in producing them.
The other way is a monetary measure. It is the total dollar value of cars produced in a given period of time divided by the total number of worker-hours needed to assemble them.
KLEMS
In labor productivity, the equation is simply output divided by input (O/I).
On the other hand, multi-factor productivity growth is the rate of output growth relative to the growth of all production inputs – labor, energy, materials, and services.
In the equation Multifactor Productivity=Output/(KLEMS), K is the capital services, L is labor services, E is for energy, M stands for materials and S refers to the purchased services.
The equation is a complicated index number. The purpose is to arrive at a figure of the change in output relative to the change in all the inputs. Theoretically, the number is more comprehensive, but it is also difficult to calculate.
The old assembly plant
A first-hand comparison between labor productivity and multifactor productivity is illustrated by the economist Jack Triplett during a panel discussion sponsored by the National Association of Business Economists.
In his anecdote, Mr. Triplett recounted visiting an old but still workable assembly plant three stories high. The workers followed the old routine of bringing in the materials in the first floor, doing the sub-assembly at the second floor and the final assembly at the top floor.
Over the years, the machines assembled got bigger and bigger and they were difficult to bring down from the top floor. Somebody finally suggested reversing everything: bring the materials to the top floor, do the sub-assembly at the second floor and the final assembly in the first floor.
It had a big positive effect on productivity. They were able to produce more with the same number of workers. Mr. Triplett did not comment much on the change of multifactor productivity because of KLEMS.
He did mention though that the guy who did the suggestion is an “S” in KLEMS. If the man was a consultant and was paid for it, it will show up as an “S” in the equation and would show no increase in the multifactor productivity output.
On the other hand, if the idea was from a bright worker and was not paid, then there is no input recorded. In conventional accounting, that would register well as an increase in the multifactor productivity side.
Mr. Triplett continued that the multifactor productivity measure is often preferred now over that of conventional labor productivity because it is “a measure of technological change” as well.
For a long time, when there is talk of productivity it always means labor productivity. This is the measure of the output that an hour of labor produces. Multi-factor productivity is more comprehensive than labor productivity.
Whereas labor productivity tends to focus on manufacturing (easier to quantify) rather than services, multi-factor productivity on the other hand takes the computation several levels up.
As one of the economic indicators, productivity is basically a measure of how efficiently an economy transforms its labor, capital, and raw materials into goods and services.
Conventional productivity measurement
In a car manufacturing plant, productivity measurement is straightforward. One is a physical measure where the total number of cars made in a period of time is divided by the number of worker-hours spent in producing them.
The other way is a monetary measure. It is the total dollar value of cars produced in a given period of time divided by the total number of worker-hours needed to assemble them.
KLEMS
In labor productivity, the equation is simply output divided by input (O/I).
On the other hand, multi-factor productivity growth is the rate of output growth relative to the growth of all production inputs – labor, energy, materials, and services.
In the equation Multifactor Productivity=Output/(KLEMS), K is the capital services, L is labor services, E is for energy, M stands for materials and S refers to the purchased services.
The equation is a complicated index number. The purpose is to arrive at a figure of the change in output relative to the change in all the inputs. Theoretically, the number is more comprehensive, but it is also difficult to calculate.
The old assembly plant
A first-hand comparison between labor productivity and multifactor productivity is illustrated by the economist Jack Triplett during a panel discussion sponsored by the National Association of Business Economists.
In his anecdote, Mr. Triplett recounted visiting an old but still workable assembly plant three stories high. The workers followed the old routine of bringing in the materials in the first floor, doing the sub-assembly at the second floor and the final assembly at the top floor.
Over the years, the machines assembled got bigger and bigger and they were difficult to bring down from the top floor. Somebody finally suggested reversing everything: bring the materials to the top floor, do the sub-assembly at the second floor and the final assembly in the first floor.
It had a big positive effect on productivity. They were able to produce more with the same number of workers. Mr. Triplett did not comment much on the change of multifactor productivity because of KLEMS.
He did mention though that the guy who did the suggestion is an “S” in KLEMS. If the man was a consultant and was paid for it, it will show up as an “S” in the equation and would show no increase in the multifactor productivity output.
On the other hand, if the idea was from a bright worker and was not paid, then there is no input recorded. In conventional accounting, that would register well as an increase in the multifactor productivity side.
Mr. Triplett continued that the multifactor productivity measure is often preferred now over that of conventional labor productivity because it is “a measure of technological change” as well.
Thursday, September 1, 2011
Free Your Mind and Check Your Credit Scores Online
by: Deborah Lee
When people hear that some items are sold for credit, they would leap for any opportunity that will come their way. It's not surprising to note that there are a lot of people who do not have enough cash on hand to handle all their expenses. And getting them on credit is the best possible way.
But it should not just end there; you have to know that when you get things on credit, you have the responsibility to repay what you've purchased, only it is at a later time like the end of the month. The lender expects that you make payments on a specific date, which you should not forget or overlook. Otherwise, you will be marked as a person with a bad credit reputation.
With how things are going now, credit is the best option for almost anybody, so you should exert more efforts to maintain a good credit reputation if you want your credit applications approved.
Once you've started to build your credit history, you must see to it that you maintain a high credit score. This will be of great use when you apply for loans, mortgage, credit cards, and other credit transactions.
There are three agencies responsible for gathering people's credit reports. Most establishments offering credit transactions rely on these agencies for credit reports of different people. So you have to make sure that you're building a good report, and not a bad one.
All of us are just human beings that constantly make mistakes, but it is not a valid excuse for not paying your dues on time. For those who already have a bad credit reputation, you can re-establish it through credit repair. And it is equally important to keep track of your credit scores contained in your credit report, at least on an annual basis.
It is not that difficult nowadays to keep track of your credit report. In fact, there are now services online which offer free credit score information directly from the three credit reporting agencies or bureaus.
The Internet is a great tool to obtain credit information. If you have an Internet connection, you don’t need to go to physical offices of these credit agencies just to check your credit report.
TransUnion, Experian, and Equifax are the three major credit reporting bureaus/agencies responsible for gathering your credit information. Different websites have different offers. You can find sites which offers a free copy of your credit score. The credit scores are simple to understand, and some even provides detailed explanations to help you in understanding your credit score better.
Getting a copy of your credit report online is the most accessible way; and it is delivered to you quickly, securely, and safely. With the Internet, you can have access to your credit report and credit score twenty-four hours a day.
Get a copy of all your credit reports in the three agencies for not more than forty dollars. Though it might cost a little, it helps a lot in keeping track of your credit standing especially if you need to make a loan in the future. Aside from that, you can easily see and check if there are mistakes in your credit report, so you can report it to the agency fast and easy.
Credit scores are important, and it's just like getting a high grade when you were still studying.
When people hear that some items are sold for credit, they would leap for any opportunity that will come their way. It's not surprising to note that there are a lot of people who do not have enough cash on hand to handle all their expenses. And getting them on credit is the best possible way.
But it should not just end there; you have to know that when you get things on credit, you have the responsibility to repay what you've purchased, only it is at a later time like the end of the month. The lender expects that you make payments on a specific date, which you should not forget or overlook. Otherwise, you will be marked as a person with a bad credit reputation.
With how things are going now, credit is the best option for almost anybody, so you should exert more efforts to maintain a good credit reputation if you want your credit applications approved.
Once you've started to build your credit history, you must see to it that you maintain a high credit score. This will be of great use when you apply for loans, mortgage, credit cards, and other credit transactions.
There are three agencies responsible for gathering people's credit reports. Most establishments offering credit transactions rely on these agencies for credit reports of different people. So you have to make sure that you're building a good report, and not a bad one.
All of us are just human beings that constantly make mistakes, but it is not a valid excuse for not paying your dues on time. For those who already have a bad credit reputation, you can re-establish it through credit repair. And it is equally important to keep track of your credit scores contained in your credit report, at least on an annual basis.
It is not that difficult nowadays to keep track of your credit report. In fact, there are now services online which offer free credit score information directly from the three credit reporting agencies or bureaus.
The Internet is a great tool to obtain credit information. If you have an Internet connection, you don’t need to go to physical offices of these credit agencies just to check your credit report.
TransUnion, Experian, and Equifax are the three major credit reporting bureaus/agencies responsible for gathering your credit information. Different websites have different offers. You can find sites which offers a free copy of your credit score. The credit scores are simple to understand, and some even provides detailed explanations to help you in understanding your credit score better.
Getting a copy of your credit report online is the most accessible way; and it is delivered to you quickly, securely, and safely. With the Internet, you can have access to your credit report and credit score twenty-four hours a day.
Get a copy of all your credit reports in the three agencies for not more than forty dollars. Though it might cost a little, it helps a lot in keeping track of your credit standing especially if you need to make a loan in the future. Aside from that, you can easily see and check if there are mistakes in your credit report, so you can report it to the agency fast and easy.
Credit scores are important, and it's just like getting a high grade when you were still studying.
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