| Don't let financial myths derail you
NEW YORK - Whether you're a young adult tackling money management for the first time, or a financial late bloomer struggling to get a grip on your spending, you would do well to heed the warnings of Steven B. Smith, president of Finicity, a company offering online money-management tools to consumers and businesses. Smith debunks four financial myths that frequently derail people's efforts to manage spending, reduce debt and increase savings: • Myth 1: It's always best to open a savings account at a brick-and-mortar bank. .
Turning up heat on retirement savings
Bank of America Corp. plans to launch on Sunday a $35 million advertising campaign to promote its retirement savings accounts, as the Charlotte, N.C., bank stakes its claim in one of the fastest-growing areas of financial services. "We're in this to win," said Jeff Carney, the bank's chief of retirement products. About 54 million households have a relationship with the bank, but it manages individual retirement accounts for just 1.5 million people. Next year the print and online campaign may expand from IRAs to include the bank's 401(k) retirement savings plans and similar products. "People realize that 401(k)s and IRAs are the two most important vehicles for you to save for yourself," Carney said. The bank's spending would dwarf the $11.6 million that all banks collectively laid out last year to promote retirement products, according to New York data firm Competitrack.
19-11-2007: StanChart e$aver advocates flexible banking
KUALA LUMPUR: Standard Chartered Bank Malaysia Bhd has launched an online banking product, the e$aver, which is designed to complement regular savings or checking accounts. The e$aver offers high interest rates of up to 3.5% on savings while providing the flexibility of managing funds online with no lock-in period. Without the need for a minimum amount, it comes with no maintenance fee, no minimum balance fee, no over-counter fee as well as no StanChart ATM withdrawal fee. “With this latest initiative, we expect a total of 40,000 new sign-ups which would further strengthen our targeted 10% growth rate," said Shyam Srinivasan, StanChart Malaysia country head of consumer banking. An early bird bonus interest of 0.25% per annum will added onto the account for customers who sign up before Dec 31, 2007.
Safeguard your online assets with good habits
NEW YORK - Do you think using online financial services is just too darn risky? Well, think again. Online banking may actually leave you less vulnerable to fraud than traditional banking, according to Javelin Strategy and Research. The research firm found that customers who made a habit of monitoring account activity online tended to discover suspicious activity more quickly. And early detection spelled savings: victims of cyber crime who tracked their accounts online paid out an average of $551 per incident, whereas those who relied on paper statements paid an average $4,543 per incident, reports MSN Money columnist Liz Pulliam Weston. If you choose to bank online, be aware that you are offering thieves another avenue to your finances. To ensure that you don't fall prey to cyber fraud, be sure to follow these tips from Weston's book, "Easy Money": .
Christmas trees and holiday lightings around the country
NEW YORK — The lighting of the Christmas tree at Rockefeller Center is probably the most famous celebration of its kind, and this year it will take place Nov. 28, 7-9 p.m. If you’re not among the thousands crowding in to watch the event live in midtown Manhattan, you can watch from home on TV or stop by in person any time through Jan. 3.But if you won’t be coming through the Big Apple this holiday season, there may be a tree lighting or some other stupendous display near you. Here are some from around the country.In Washington, D.C., the National Christmas Tree Lighting Ceremony takes place Dec. 6, at 5 p.m. at the White House Ellipse. Tickets are required; details at 202- 208-1631. Entertainers and a military band perform and President Bush will speak. On Dec. 5 at 5 p.m., the Capitol Christmas Tree Lighting Ceremony takes place on the West Lawn of the U.S.
Undocumented immigrants afraid of using U.S. banks
Stuffed in the bottom of a sock, or between the folds of clean clothes, or in the back of a drawer: There are dozens of places undocumented immigrants find to stash their savings. Surprisingly few of them, however, involve a bank.
There is no regulation that requires proof of legal status to open a bank account in the United States, and an increasing number of small banks are pursuing immigrant and Hispanic customers. Yet finance professionals and immigrant advocates say millions of undocumented men and women still opt to keep their cash on hand, or else wire it home a little at a time, paying for each transaction as they go.
Advocates say the problem largely lies in gaping cultural divides, and fear among the undocumented that bank accounts would make them more visible to authorities.
Europe 2030: Model power not Superpower - Bruges Speech by the Rt Hon David Miliband MP Foreign Secretary
I feel a strong sense of personal history in delivering this lecture today. My father was born in Brussels, my mother in Poland. My family history reflects the strife which divided the Continent and the values which later united it. This college reflects that history too. You have a sister college in Poland. The vision of your founder, Henri Brugmans, a hero of the Dutch resistance, was fired by memories of dark days listening to BBC reports of resistance struggle against fascism. And the people we honour this year, Anna Politkovskaya and Hrant Dink, were exemplars of our basic commitment to freedom of expression, a founding value of the EU. But my speech tonight is not about history. It is about the Europe that you, the students gathered here, will inherit in the future.
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