From Martin Lewis. What is Good Debt and Bad Debt.
Monthly Archives: June 2008
Microsoft Gates Retires
Bill Gates will retire starting July 1, 2008.
This 52 years old guy is worth USD 50 billion. This paragraph may explain what Bill Gates will do in his retirement life:
“I’m not going to create a company,” Gates vows. “The foundation is the top priority. But there are some other things that I might help along. The scientific brainstorming with Nathan’s group has led to a new nuclear energy startup, and I’m a funder and advisor to that thing. It won’t be a huge amount of time, but the truth is, cheap energy that’s environmentally friendly is a breakthrough that is more important for the poor than the rich. And the poor need fertilizer, more reliable seeds, and better agriculture too. They can’t cut back their eating, because that’s called starvation. So I’m investing in that.”
If you’re interested to read further about Bill Gates story upon his retirement, read this:
10 Practical Ways to Control Your Credit Card Debt
Filed under Debt Management, Personal Finance
An interesting story for you. Real-life experience by these 10 families on how to control their bad habit on credit card debt.
Well, if they can do it, you can do it too!
Read all 10 wonderful stories: They cut out their credit cards
New Pricing Structure for Credit Card User
Filed under Debt Management, Personal Finance
Bank Negara Malaysia introduces tiered pricing structure to promote good financial discipline among credit card users
Bank Negara Malaysia wishes to announce the introduction of a tiered pricing structure for credit card users to promote the use of credit cards as a payment instrument. This is part of Bank Negara Malaysia’s continuous efforts to promote prudent financial management and inculcate good financial discipline among credit card users in Malaysia.
On average, one-third of credit cardholders use their credit cards as a payment instrument, settling their credit card outstanding amount in full every month. More than half of cardholders pay at least the minimum amount due promptly and roll over the remaining balance. For the benefit of credit card users who have a good track record of settling their credit card balances which are due each month, promptly for 12 consecutive months, the finance charge will be reduced from the maximum of 18% per annum to not more than 15% per annum. The ceiling rate of 18% per annum will still be applicable for other cardholders.
Credit card issuers will begin to track the repayment behaviour of their cardholders with effect from 1 July 2007. The details of the new scheme, including the finance charges and its calculations, will be communicated by individual card issuers. The tiered pricing structure will be implemented by 1 July 2008.
Bank Negara Malaysia also encourages debit cards as an alternative payment instrument. The domestic banking institutions are in the process of upgrading all credit card terminals deployed by them to accept their ATM cards. The exercise, which is expected to be completed this year, will enable the 15.4 million ATM cardholders to use their ATM cards to make purchases at participating merchants.
The greater use of these payment cards is part of Bank Negara Malaysia’s drive to accelerate the migration to e-payments. Bank Negara Malaysia and the financial industry will continue to implement initiatives to promote e-payments.
Bank Negara Malaysia
26 June 2007
Official Source is here
Gold Exchange Traded Fund
Filed under Investing, Personal Finance
These securities offer investors a new, innovative, relatively cost efficient and secure way to access the gold market. All of the securities are backed by allocated gold held in a vault on behalf of investors. They are intended to offer investors a means of participating in the gold bullion market without the necessity of taking physical delivery of gold, and to buy and sell that interest through the trading of a security on a regulated stock exchange. The introduction of exchange-traded gold securities is intended to lower many of the barriers such as access, custody, and transaction costs, which have prevented some investors from investing in gold.
More excerpt:
Why choose Gold?
The value of goods and services that gold can buy has remained stable unlike currencies that have seen significant fluctuation. A study spanning a 400-year period has shown that the basket of goods and services that gold could buy over the period has remained the same.
Gold protects your portfolio from volatility because the factors, both at the macro-economic and micro-economic fronts that affect the returns from most asset classes do not significantly influence the price of gold. Just after 9/11, while stockmarkets and bonds crashed across the world, gold held steady and, in fact, rose on that day by six per cent.
For a given level of returns from a portfolio, the risk or volatility can be reduced by adding gold to it. Similarly, crises such as wars, which have a negative impact on prices of most asset classes, have a positive impact on gold prices since the demand for gold goes up as a safe haven for parking funds. It is the only medium of exchange completely free of credit risk as it does not imply a liability for any other entity.
Reading Sources on Gold ETF :
1. ETF Investors Going for Gold
2. Exchange Traded Gold
3. Gold ETFs & how they can make you rich