The best savings account

Summary:
Article that explains some different savings accounts, how they work And why some are better than others, also touches on why it is so important to Have a savings plan in place.

Article Body:
The best savings account

Savings accounts are the best idea for putting away a set amount of money each week or month depending on your circumstances. You would be surprised at how quickly this money can add up if you are contributing a set amount from your paycheck every payday.
When shopping around for the best savings account, find one that pays a good interest rate and has a minimal amount for opening the account. A lot of banks only require a dollar to open an account while others may want you to deposit anywhere from 5 dollars to 50.

The convenience of having money automatically withdrawn from your paycheck and placed in your savings account is great for some. However others may not put a set amount in each payday and may want to choose how much they deposit into their savings account.

The best type of savings account will pay a comparable interest rate, be easily accessible to your home or work, will not charge a fee for withdrawals from your account, has on-line availability, and does not require a large deposit to open. If you have a bank account and access it online you should be able to transfer money to and from your savings account. You should try not to transfer from it unless it is an emergency because this defeats the purpose of having the savings account in the first place.

Some types of savings accounts are geared towards the holiday season. This allows you to save money for Christmas. If you start it early enough in the year by the time Christmas rolls around you can have a nice amount for your holiday shopping.

Another type of savings account featured by some banks link your debit card with your savings account. Every time you make a purchase using your debit card the amount is rounded up to the next dollar and the extra is deposited into your savings account. Some of these banks will even match the amount deposited by a certain percentage.

Savings accounts are great ways to start your children out learning how to be responsible when it comes to money. Open a savings account and let them deposit birthday money or Christmas money for themselves. All the change that gets thrown in a jar every day can become a savings account deposit for them. They will love to go to the bank and deposit their own money and in the process you are teaching them the importance of saving.

Another advantage to a savings account is establishing credit. If you borrow money from your bank using the money in your savings to secure the loan, when you pay the loan back you will have established credit with your bank. This can make it easier to get an unsecured loan should you need it.

It is important to have a savings account and add to it regularly. For that unexpected expense that crops up, having the money to cover without having to borrow the money is great. With everything today being based on credit-worthiness, establishing a good relationship with your bank or credit union can make a big difference when it comes to buying a home or a car.

For more info visit
http://www.open-a-online-savings-account.com"

Supermarket Smart Cart

Summary:
We 'check out' latest supermarket ‘smart’ cart.

Phil Lempert (The Supermarket Guru) test-drives the Stop & Shop's "Shopping Buddy", a grocery chain’s attempt to eliminate the annoying check-out line.

It’s a fact : most supermarket shoppers love going to the supermarket — finding new products, tasting free samples and finding bargains – spending money.

But then it comes time to check out….

Having enjoyed the displays and the picking-out of items, they are then face...

Article Body:
We 'check out' latest supermarket ‘smart’ cart.

Phil Lempert (The Supermarket Guru) test-drives the Stop & Shop's "Shopping Buddy", a grocery chain’s attempt to eliminate the annoying check-out line.

It’s a fact : most supermarket shoppers love going to the supermarket — finding new products, tasting free samples and finding bargains – spending money.

But then it comes time to check out….

Having enjoyed the displays and the picking-out of items, they are then faced with the task of taking their selections, putting them on a conveyor and then putting them back in their cart.

And, usually, of having to wait in line for such a dubious privilege.

Yes, dealing with the supermarket check-out line — including the horror of having kids screaming for the candy “conveniently” placed there by profit-hungry conglomerates — is among the least popular chores, according to many surveys. And while many supermarkets have installed “self-checkout” lanes, only a third of consumers, according to a ACNielsen Homescan (the global leader in market research, information and analysis.) consumer panel of over 61,000 Americans, believe this kind of help-yourself method is no way near a solution.

Plainly, supermarkets need to figure out better ways to check out. And many of them are trying to come up with an answer.

One chain in particular, Stop & Shop, a chain based in the Boston area, is seeking to change the whole way we shop for groceries — including the dreaded check-out lane.

To find out more, I traveled to Braintree, Mass., to, um, check out Stop & Shop’s Shopping Buddy. I also looked at IBM’s Everywhere Display, a new in-store tool for marketing products to consumers.

The Shopping Buddy

Shopping Buddy can help you organize your shopping trip and save money! The Shopping Buddy is a small tablet that you activate with your Stop & Shop card. Once activated, the Shopping Buddy displays your personal savings coupons and shopping history by aisle, based on your location. It's easy to see the things that you normally buy that are on sale in each aisle. You can also use Buddy to:

* Keep a running total of today's purchases
* Order deli without waiting in line
* Scan and bag your items as you shop for quick checkout

Shopping Buddy is only available in the Braintree, Quincy Southern Artery, Kingston and Plymouth Massachusetts stores.

The IBM Everywhere Display

This transforms any surface into a virtual interactive touch screen computer. Next to an item on the grocery store shelf the Everywhere Display can give you information about the item including videos and web based information. It can tell you if an item is in stock and if not you can then and there place a special order for it. Of course, promotional savings are attached to these displays as well.
So, when will every store in America be as easy and fun to shop?

The Shopping Buddy is available in 20 stores in New England now and we will see another 150 installations in both Stop & Shop and its sister chain Giant (Washington DC area) by the end of 2005.

Store Cards – Are You Storing Up Problems?

Summary:
The number of people with one or more credit cards has grown at an unbelievable rate in recent years. Like the mobile phone, the credit card has become a way of life for many people, something they’d be lost without.

The offer of a store card for your favourite store can be tempting and may offer opening discounts, invitations to special events (encouraging you to spend money in the store, of course) and the familiar “If you take out the card today, you’ll get 10% off your...

Article Body:
The number of people with one or more credit cards has grown at an unbelievable rate in recent years. Like the mobile phone, the credit card has become a way of life for many people, something they’d be lost without.

The offer of a store card for your favourite store can be tempting and may offer opening discounts, invitations to special events (encouraging you to spend money in the store, of course) and the familiar “If you take out the card today, you’ll get 10% off your purchases. It won’t take very long; we can fill the form in now. You may as well take advantage of the offer and get your discount at least.” You know how it goes and yes, there are some things you’d like and the discount is worth thinking about. Before you know what’s happening, you’re giving details of your current account etc., etc., etc.

It’s a familiar scenario. Over 40% of people who sign up in this way had no intention of doing so when they entered the store, according to the Office of Fair Trading, and yet they may well make a major purchase.

This isn’t a problem if you have the money available to clear the balance within the interest free period, which can be from 35 to 55 days, in most cases. However, if you’re unable to meet this time-limit you need to be aware that the interest on the outstanding balance can soon mount up.

The Consumer Credit card act sets down regulations for any loan under £25,000. Whether or not a total overhaul of these rules is necessary is under consideration.

Data provider Moneyfacts provide some enlightening information regarding the variation in store cards interest rates. John Lewis, which includes Waitrose, has an APR of 13% and Marks & Spencer offer 18.9%, whereas Debenhams and Comets Timecard are currently charging 28% and 29.9% respectively.

Before you sign up to one of these cards, take time to consider:

The discount may be a good deal and if there is a purchase that you are seriously considering anyway and you have the money to fund the purchase within the interest free period.

What is the APR rate on this offer? How much will you be charged on the remaining balance?

There may be an interest free period. How long does this last and when it ends, what rate will be charged?

Payment Protection Insurance will be offered. Check how much this is going to cost and what benefits are offered. This is an option but could prove a blessing under some circumstances, such as illness or redundancy. Read the agreement carefully to find out more.

Remember that you’ll need to budget carefully for store card purchases – it’s easy to overspend.

You don’t need to sign there and then. Take the agreement away and check everything, including the interest free period, APR, default and late payment penalties. Ask questions until you’re satisfied you fully understand everything.

The Office of Fair Trading endorses the above advice. They also advise that you compare the store card with other payment methods.

Don’t be hassled into taking out a card you don’t want by some pushy person who doesn’t really care whether or not you’re getting what’s right for you, as long as they get their commission for signing you up!

Remember, as with credit cards, the statements come in monthly. Keep track of your spending. Credit cards with low APR’s are, in general, a better deal than store cards, according to the majority of financial experts.

Take care and weigh up all the options.

Signing for your card transaction is now a thing of the past

Summary:
Chip and pin has now completely replaced signatures for card transactions.

Article Body:
From Valentines Day (14th February) 2006 a signature is not good enough for you to purchase goods in the UK using your debit or credit card. Chip and PIN technology has been around for years, but before now it has still been an option that you may sign for your card transaction. Now, however, that luxury has been taken away. No longer will a signature be enough proof that the card you are using is yours. If you own a debit or credit card you must now know your PIN number or else you won’t be able to use your card.

Card fraud is a big problem in the world nowadays, but this new technology has significantly decreased card fraud. It is estimated that 80% of retail transaction in the UK are now paid for by card. This isn’t because more and more people are getting credit cards, it’s because more and more people are getting a debit card with their bank account and using this debit card instead of cash when shopping.

Most new bank accounts nowadays offer free debit cards when you open your bank account. Barclays bank (one of the UK’s biggest banks), for instance give you a free debit card with their current account (http://www.barclays.co.uk/currentaccount-index ) and their new High Interest Savings Account (http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=articleFWgroup&value=2430&target=_self&site=pfs ). This card is a great benefit, as it means that you don’t have to carry cash around with you, and when crossed with an account that gives you a good interest rate, you can have a very beneficial addition to your purse or wallet.

For those of you that don’t already use a debit card; it is basically the same as your “hole in the wall” bank card, but also can be used like a credit card in stores when paying for your shopping. The good thing about the debit card is that it gives you access to your own money, without you having to get credit and get in to debt. Whenever there is no money in your account you can’t use your debit card – this curbs your spending and thwarts your ability to spend more than you can afford.

The problem in the past with debit cards was that if you lost it someone could easily use it in a store with your forged signature, potentially giving them access to all of your funds. Now that chip and PIN has become compulsory it means that a thief cannot use your card in a store without knowing your PIN. This makes your card a lot more secure. The only thing remaining is to remember you PIN (Personal Identification Number) and not to write it down and store it anywhere near your debit card.

Disclaimer:
All information contained in this article, is for general information purposes only and should not be construed as advice under the Financial Services Act 1986.
You are strongly advised to take appropriate professional and legal advice before entering into any binding contracts.

Should You Pursue Lease Options To Purchase a Home

Summary:
The real estate market is a place where people can get very creative. This brings us to the rent with option to buy programs you see on the market.

Article Body:
The real estate market is a place where people can get very creative. This brings us to the rent with option to buy programs you see on the market.

Should You Pursue Lease Options To Purchase a Home

Leasing is a fairly popular form of living arrangement since it basically involves renting over a pre-set period of time, usually 3, 6, or 12 months at a time. Leases provide lower rates than a month by month rent. However, when looking to lease, one will often come across the “Lease Option.” A lease option is essentially the same thing as a lease except that it provides the option to purchase the property at a future date.

The option is just that, an option. It may be an interesting offer for some renters, but others will want to pass it up. The option does not have to be taken, since there is a fee required to purchase the option. Although the amount can vary, the fee is usually up-front and paid when entering the lease. In general, lease options are offered in times of slow real estate markets, since generally owners of property look to simply sell during the hot times.

There are some definite advantages and disadvantages when it comes to a lease option. On the downside, the lease option is rarely exercised and therefore it ends up being money wasted. Many people pay the money thinking they will buy later and then either lose interest or find they can’t qualify for a mortgage. When this happens, the money paid to purchase the option is lost and you will be wondering what you could have possible been thinking when you entered into the agreement.

An area where a lease option is commonly used is real estate investment. In such a situation, a real estate investor believes he or she can flip the home in a short period for a profit. They find the lease option to be very attractive because it allows them to secure the home without dedicating significant cash resources to the deal. Once they purchase the option, they then start hunting for a buyer that will pay more than the seller is looking for in the original sale. If the investor can pull it off, they exercise the right to buy and immediately sell to the third party. In many cases, the two transactions will happen at the same time! This leaves the investor with a smile on their face and the original seller in a grumpy mood.

As with anything, there are upsides and downsides to a lease option. For investors, it makes sense in many situations since it frees up cash flow. For people looking for a place to live and raise a family, it rarely makes sense.