Importance of Credit Cards in the Context of Human Trade and Finance

Finance is a broad concept which can actually be placed under two concepts, one as the study of how money is being managed, and another is the allocation of resources efficiently. Finance is a very important terms in the aspect of mankind, as human being just cannot exist on earth without finance. Each and every entity on earth that is being managed or run by man needs finance, be it a micro concept as, functioning of a single household, or in the broader aspect as the functioning of entire government or large business firms, all need finance to develop and grow as well as exist. 

Origin and Types

Origin of the term finance can be traced back to the time of the development of human civilization, however it can be found as a very popular word of the eighteenth century, meaning of which is management of money and wealth. Later this term has evolved into a greater extent, not only in the aspect of its practicality or academic importance, but also it is regarded as one of the important branch of economics. Finance is thus important in overall growth and development of human being. Finance can be also categorized in three forms according to the importance and uses such as public finance, personal finance and corporate finance.

Evolution of Payment and Transaction

With the advent of science and technology, human have made large progress in the field of science and technology. Not only in the area of science, have they moreover developed as most advanced species on earth. With the fusion of technology in every sphere, financial transaction has also evolved in more advanced from. Gone were the days of barter system or paper money. Now transaction is made largely through the process of plastic money or electronic payment. The growth of technology has revolutionized the procedure of money payment with e-money, debit cards and mobile payment gaining more popularity. 

Importance of Credit Cards

It is often said that if the outstanding balance is paid regularly at the end of each month, and if the expense is controlled efficiently, Credit Cards are the best source of money payment and making useful transaction. Credits Cards are very important tools dealing in the concept on finance and hence its benefits can be numerous.

1. Helps in resolution of Disputes – Credits cards are more secure and active than debit card in terms of any fraud transaction. In debit cards money may be out of your bank account by the time you come to know, but credit cards are safe in the way that in case of any fraud transaction, money remains intact.

2. Get More On Payment- While making any payment through credit cards, there are various schemes and offers available on the credit purchase, such as money back guarantee, money refund scheme, or bonus points, or even surprise gifts. These are not available on any other mode of transaction.

Conclusion

Thus credit cards offer plenty of benefits one can avail of than any other mode of payment or transaction. Finance is therefore very important aspect of human civilization and without it the entire society just cannot exist. Importance of credit Card is also inseparable, as it is one very important mode of money transaction and payment, thus becoming one very important tool of human trade and finance.

Author’s bio – Alisa Martin has written several quality articles on Logbook Loans. She suggests her readers to visit Logbookmoney.com to avail more information on the same.

Insurance – A Partner for Today and for Tomorrow

insurance (Photo credit: Alan Cleaver)

To be insured is to be ensured that in future no matter what the problem is financial problems can be met without a second thought. Whether it is about the bread earner who is no more or he suffering from long term disease, insurance is about both the facts. Insurance is a partner for today and tomorrow. A family is a bread earner’s utmost responsibility. He or she aims at ensuring a safe future for their family. They strive for the best. There are two untimely things which stop them from getting what they want, those are death and disability.

Death is inevitable but saving our loved ones from its effects is possible. Same is the case with disability. Disability can disable one physically but not economically. This is possible due to two policies - the first one is term life insurance and the other is disability insurance. For a better understanding the following subheads can be followed.

Affordability

Insurance is affordable. The coverage varies. The market offers a wide range. Comparison of policy range is very important. In order to get the best deals, knowing the options is the most important thing so that we get the best of what we want.

Quotes

The next important part is finding the quotes. This could be done by filling forms from any reputed firm. This ensures getting best of knowledge of deals. A disability insurance is generally filed by the person’s company itself but this can also be approached on an individual basis.

Agents

An agent is the one who is dealing with policies etc. He is a company representative. When you choose an agent care should be taken that he is trustworthy because the claims and coverage and other details and exchange of information depend solely on him or her.

Going for the Policy

While applying for the policy certain proofs and documents are required. Few of these include identity proof, income proof etc. The documents required vary from company to company. As soon as the policy is filed the customer receives a policy number also there is a bunch of official documents clubbed with it. These are sent to the buyer to ensure that the company has made him aware about all the needs etc. Along with the policy number certain other confidential points are briefed to the policy holder.

There are several more points to be taken care of while going for a policy. The company should be reputed and all the conditions etc. should be taken into account. Also it is the duty of the buyer to make sure that he / she have supplied the company with all genuine documents. There should not be any misleading document or discrepancies in the information, which may lead to legal problems in near future. The benefits of both the policies differ widely. In one the family is the nominee and gains the benefit after the decease of the policy holder.


There are several FAQs which come into mind while going for a policy. These can be dealt and understood by referring to the disability insurance quote available on TermLife-Insurance.com. One should be very keen in selecting such things.

UK Pensions are Changing – Keep Up with the Future

Most legal firms in the UK are general partnerships, in which ownership, profits and liabilities of the company are shared between however many partners make up the firm. Other employees, such as support staff, office managers, paralegal and clerical workers are employed by the company to ensure that they can offer clients they services they need to take care of their legal requirements. Many law companies are small to medium businesses and, although they may provide their support staff with pensions, law partners are likely to make their own arrangements to ensure their future financial freedom.

This means that law partners often have to set up and administer their own pension schemes. This is fine for those who have the time and the financial nous to ensure that their later years are supported by a decent pension. However, not all legal experts are knowledgeable on the intricacies that they’re likely to meet when entering the field of finance and pensions and many of them would welcome a helping hand as they wade through this minefield.

More and more legal partners nowadays are opting to use the services of a pension provider. This way, their pension funds are managed by experts in the world of finance and investment and they are much more likely to see a good return on their investments this way. Using a professional service to manage a pension fund is the safest way of making sure that the future is bright with enough income to enjoy their later years in style.

Legal professionals usually enjoy a relatively good income during their working lives, however they may be so busy working that they don’t really have the time to enjoy all the opportunities that a good salary has to offer. This often means that they plan to retire reasonably easy to enjoy the fruits of their labours during their later years. However, in order to enjoy life to the full in this modern world, a decent pension income really is essential. The population in general is living longer and staying healthier, which means that pensions need to last for longer than they did in years gone by. This means that more money needs to be invested in order to provide the returns necessary to ensure an adequate income in later life.

In the current economic crisis, it’s advisable to get some expert help on planning for the financial future. The world of finance is changing and the UK government is planning new legislation to encourage more people in the UK to take an active role in planning for their later years. There are pension providers in the UK who specialise in setting up and administering pension funds for legal professionals. They know the money markets and bring a wealth of experience and expertise when designing pension plans that are relevant to the legal industry. Whether it’s pensions for law partners or for all the employees working in a law firm, they have the knowledge needed to ensure that retirement funds will be available to enjoy life to the full in the future.

Some Ways to Save Money You May Not Have Thought About

Realistically, the vast majority of us are looking for ways to make our money work harder. Spending less on certain essential items is definitely one way to do this. However, in practice, this is often easier said than done and changing our spending habits can be quite difficult.
So if you are looking for some tips for how to save money, try starting with these suggestions.

Think about how you shop

Much of this is a mind-set change. With things like your weekly groceries, make sure you aren’t going to the shop feeling hungry, and avoid the tempting, end-of-aisle offerings that trick you into making impulse purchases. Get a rewards card with your regular supermarket which will often give you money-back vouchers on certain items that you regularly buy. Perhaps also consider a credit card which will pay you cashback for purchases made on it, though you should always ensure you can pay this balance back in full each month.

For things like shopping for electronic items or clothes, try comparing prices online, rather than buying the first item you see. You can also find good cashback deals on certain websites, meaning you are effectively ‘paid back’ some of the money you have spent. 

Reduce your travel spending

A surprisingly large amount of money can be saved if you change your driving habits. Becoming a more considerate driver will help you use less petrol, i.e. leaving a bigger gap between yourself and the car in front, accelerating and braking less aggressively, not speeding - especially on motorways, will all reduce your fuel costs, as well as help contribute positively towards a healthier environment.

When it comes to trains, use season tickets when it comes to regular journeys, such as the one you make to work each day. For longer trips try to book online as far in advance as possible. Also try to use advance tickets where possible, i.e. where you have to travel on a set train on a specific date.

Cut down on electric and gas prices

Energy prices are one of the quickest rising costs at the moment, seemingly going up a staggering amount far above inflation every year. So finding ways to cut back on your gas and electricity bills will save you a large amount of money across to course of the year, especially during the winter months. Firstly, consider the things you can do yourself such as ensuring that lights are turned off when not used, not leaving devices such as televisions and games consoles on stand-by, filling up the kettle with only as much water as you need etc.

After you have thought about your own usage, then it is time to do some research into other providers. If you haven’t already, it’s well worth using a comparison tool to see whether you could save money elsewhere and make the switch if necessary - something which is far easier than you may think!

Auto insurance Fraud on the Rise- Watch Out!

(Photo credit: Wikipedia)

Last month’s twister in Oklahoma left more than deadly destruction and debris in its trail. While picking up the pieces, a number of people had to deal with a disaster of a different kind: insurance fraud, especially in cases related to automobiles. Authorities have reported that out of the 20,000-odd claims registered in the week following the tornado, a big chunk of those were concerning vehicles. To stop victims of the tornado from falling prey to auto insurance scams, the National Insurance Crime Bureau (NICB) has been working alongside the Oklahoma Insurance Department in identifying the people responsible in such cases.

Auto insurance scam numbers at a dizzying high

Recent surveys suggest that such incidences are neither restricted to occur in the aftermath of natural disasters nor in Oklahoma. In fact, D.C. recorded the highest rate of auto insurance fraud. At 83 questionable claims per 100,000 people, the country’s capital was leading when it came to the sheer volume of questionable claims considering its size and population. Maryland, California, Rhode Island and California rounded up the list of the top five states with a high rate of questionable claims.

Across the country, incidences of auto insurance fraud are on the rise and if numbers are anything to go by, there is no stopping fraudsters from making a quick buck. In a report published by the NICB, the percentage of questionable claims that were filed in 2012 jumped 13 percent from the previous year, with the number of questionable personal automobile claims increasing to 78,024 claims in 2012 from 69,219 claims filed the year before. In all, there were 209,724 questionable claims filed with the bureau when it came to all types of automobile insurance, many of them due to the growth in the number of staged accidents in the country.

These are startling numbers, given that you can never know what hit you, literally. The NICB analysis also pointed out that at one-fifth of all questionable claims, those related to bodily injury were right on top. This is a cover through which other people’s injuries can be paid for if they were caused by the one insured. Closely following was the cover in case of collision, making up 16 percent of personal automobile claims, in which the one holding the insurance policy is paid, for the damages to his own car, incase no one else is involved.

Keeping insurance scams at bay

Cases of fraud can strike without much warning, no matter how experienced you may be as a driver. While the numbers keep rising by the day, you as the one insured, can keep track of how and where these scams strike.

A few pointers to protect yourself against fraudulent claims:

• The auto insurance company or agent through which you access coverage should have a valid license.
• Do not leave the site of the accident without first noting down details of the other driver. Information like phone numbers, license numbers, license plate numbers and insurance information should be noted down.  
• Legal documentation of the accident is vital.
• Be alert about all referrals at the time of the accident, be it auto repair shops or health and legal experts.
• Avoid signing forms that you haven’t filled that may be related to health care or treatment for injuries caused by the accident.
• Review your auto insurance policies and make sure you understand them well.
• Always insist on bills for auto repairs and medical costs connected to the accident.

Older people are especially to be on guard against auto insurance frauds as they are more gullible because of their trusting nature. Seniors may want to take the help of AARP not only to get great discounts on car insurance but also to help them find coverage from an auto insurance carrier who can smell a rat when they see one!

Author Bio: Elvis Donnelly is a father of two who works from home and lives with his wife. He is voracious reader and always looks out for happening topics related to personal finance. He specializes on subjects related to insurance and uses his spare time to write on topics related to auto insurance, car insurance quotes etc.

Looking For the Best Oil & Gas Companies for Investment? Here Are Some Ideas!!!

(Photo credit: Wikipedia)

These days it seems everyone is interested in investing in oil and gas companies. The strategy is shared and very common amongst all who want to indulge in tax deferred investments. By doing so, one can now invest the money which would have been taken by the government, into something that would bring home returns. 

Some choose to pay for charity or donate that extra to avoid large tax amounts, but tax deferred investments actually help an individual make more. This is why investing in oil and gas companies across the nation have become such a rage amongst investors these days. But before you jump the gun and cut a cheque, know what risks are involved and use these tips wisely to make the most while the wells are drilled.

Check the company’s portfolio

This would help you decide if you want to deal with large or small medium companies. And it would further help you choose private or public enterprises to invest in. Once this is done, check the investment strategy and be determined with it. Your expectations should be borne in mind, but don’t forget that there are many risks along the way too. Higher profits come along the way when higher risks are taken. This means your money is at stake, and every investment would need minimal risks involved to have profits too.

Check the company’s credentials and history

The history of the company should be long and stable. Financially it should be diversified and there should be a strong team to help with risk management too. Ask them for reports and papers that prove their credentials.

Contact the companies one by one

Go to their websites and fill out the enquiry form. They would then send you prospectus and brochures through snail mail or in PDF forms. Before you think of investing in any oil and gas investment, it is mandatory for you to qualify as one. You have to be an accredited investor before any investment from your end can be made. Check resources online to learn more on what it takes to be an accredited investor.

Licensed professionals only

For appraisals on the net value of the investment being made by you, only a licensed and well certified petroleum engineer should be taken into confidence. He or she should have an exit strategy set-up for you in place. This would ensure while the holding period is on, liquidity is well managed.

Check Better Business Bureau

It is important to check for oil and gas companies in the US, since this site would bare the ugly truth about companies that claim to make your rich. If there are frauds and scams happening around, investors who have suffered the same shall post their grievances and will inform others about it too. Any company with unresolved issues from the past should not be thought of as a favourable investment platform.

Guarantees on any investments should not be made by any company dealing with oil and gas production, exploration or drilling. If there is a company that emails and tell you so, please don’t fall for it. It is on the basis of speculations where oil and gas investments are thought of and made. This could lead to major profits or losses, only time would tell. Since the prices for oil and gas has not been stable over the recent past, it would thus be wise to use your due diligence and then decide on such investments.

Author Bio
Take a look online at the various resources available on oil investing. Learn more on how you could make the best out of small and minimal investments, says Lily Noronha. There are risks involved in the oil and gas industries too. Play it smart and do your homework well, this would bring in the profits you so look forward to.