What is a virtual credit card?

On the market, there is always a concept of virtual credit card, although many credit card holders still do not know what it is exactly this. The virtual credit card was launched to facilitate online shopping, because many dealers on the Internet only offer to pay by credit card, in which many potential customers have to suffer in the absence of such a card, and therefore no deal was possible. Through the virtual credit card such customers should be addressed which are rejected to shop for not having the credit cards in general.

The difference from a normal credit card is that you get no real plastic card in the hand, but merely a credit card number, with which one can then receive payments on the internet or in other words that the virtual credit card is run only on prepaid basis. So, one has to first transfer a certain amount of money as a credit on his virtual credit card account, in order to make payments on the Internet.

Meanwhile, it is even possible to have a virtual credit card as a plastic card, but even then it contains no magnetic strip, but serves only to read the credit card number at any time. The management of the virtual credit card account is only possible online by the way, but the virtual credit card account is free of charge. To replenish the account, you need to have a referral active from a checking account, since cash payments directly to the virtual credit card account is not possible.

The virtual credit card is relatively limited compared to other credit cards because they can really be used only for online shopping. Here comes the advantage of the VCC, because there is virtually no possibility to steal the virtual credit card. Its use is also great for safety. In addition, it should be mentioned about the easy handling, which makes shopping on the Internet a truly relaxing experience.

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Wall Street in the year 2011

The New York Stock Exchange closing down slightly this last session of the week. Over the year, the Dow Jones gained 5.5% while the Nasdaq Composite lost 1.8%. Wall Street has had a lackluster year 2011. Just like the last session that saw the Dow Jones lost 0.57% to 12,217.56 points, the Nasdaq Composite, 0.33% to 2605.15 points and the S & P 500 1257.60 points.

The warning of Spain on its deficit to remind investors that the difficulties of the euro area are likely to persist in 2012. While concerns about the debt crisis are latent in the euro zone, the euro is still worth today. To 22 hours (French time), the euro stood at 1.2947 dollars against 1.2960 dollars last night.

Oil markets, the same uncertainty prevails: a barrel of “light sweet crude” (WTI) for February delivery lost 0.93% to 98.96 dollars on the New York Mercantile Exchange. The price of Brent North Sea for the same term has lost, in turn, 0.44% to 107.52 dollars on the Intercontinental Exchange (ICE) in London. As for values, AMR (-32.10% to 0.35 dollars), The parent of American Airlines, will be deListed from the New York Stock Exchange following its bankruptcy filing, she said in a statement.

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When the bills are piling up.

These days, budgeting really counts – for many of us, more than ever. The more strain your finances are under, the more important it is to make the best possible use of every penny.

The obvious place to start is by finding out where you stand: how much leeway you actually have in your monthly budget. Once you know that, you’ll be better able to figure out what to do next. (This article just takes a brief look at the subject – if you want to know more about bills, debts and budgeting, you might find this is an interesting bit of information.)

So, calculate what’s coming into your account every month. For most people, this isn’t too tricky, as we don’t have as much income coming in as we’d like to have!

Next, what’s going out? This is typically far more complicated, for all kinds of reasons – not just because we tend to spend our money on a wide range of things, but because they’ll vary from one month to the next, while some bills are paid monthly, quarterly, yearly…

If you’re carrying unsecured debts right now, you’ll need to know how much money you have available to go towards them once you’ve accounted for all your essential expenses. This figure’s called your disposable income – it’s the amount of money left over once you’ve paid for the things that you just can’t live without, from heating and eating to keeping a roof over your head.

At the end of the day, if you can afford all your essential costs and the cost of repaying your unsecured debts, it sounds like your finances are on track. If you’re in this kind of situation and the bills are still piling up, it could be that you just need to take a more rigorous approach to your budgeting.

You may even be able to overpay your debts – make more than the minimum required payment on a monthly basis to get them paid off more quickly and (potentially) save yourself a fair bit in interest. (Just make sure you’ve read the terms first – some debts will impose an Early Repayment Charge if you repay them more rapidly than you actually agreed to.)

Alternatively, you might find it makes more sense to save up for a rainy day instead. It depends on where you stand with your finances, what kind of debts you’re paying off, how much interest they’re charging you, how much interest you could get on your savings, whether it makes more sense to focus on overpaying your mortgage right now, what your future is likely to involve, etc.

If you can’t afford all your costs, the situation’s much more worrying. Unless you can find a way to cut down on your spending and/or increase your income, you may need to contact your lenders and arrange a new repayment plan of some sort. This isn’t always straightforward – so getting some debt advice is a good way to start.…

Asian stock markets have lost around 20%

For the final session of the year, the Asian market is in the green, in the wake of Wall Street. But the major indexes were down this year, the Nikkei yielding 17.3%, its worst year since 1982. The Asian market ended its last meeting in 2011 up slightly. The Nikkei in Tokyo closing on Friday up 0.67% to 8455.35 points. This does not prevent the index recorded a heavy loss of 17.46% over the year (the worst since 1982), marked in Japan by the devastating earthquake and tsunami of March 11 and the nuclear disaster at Fukushima . The plant operator Tepco has also lost more than 90% of its value since March. The Nikkei sign and its second consecutive annual decline and reaches its lowest level since year-end 1982.

Hong Kong now shows an increase of 0.29% to 18,450.75 points while Shanghai rose 0.77% to 2190.25 points. Annual performance of the two Chinese places is worse than that of Tokyo: the Hang Seng lost 21.81% and the index of Shanghai loose compost 22.10%. Only the Sydney Stock Exchange now lost 0.36% to 4056.60 points. Note that Seoul is closed because of a national holiday. Asian markets fall in the wake of Wall Street, revitalized yesterday by the publication of macroeconomic indicators reassuring: ISM index of activity in the Chicago area held steady in December, While analysts were expecting a slowdown. In addition, the promise of home sales jumped their highest level since April 2010. This good news has build confidence to European markets Hitherto gloomy after bond issue halftone of Italy.

Another reason for caution: the signs of a slowdown in Chinese growth is increasing. According to the PMI purchasing managers released today by HSBC, China’s manufacturing activity continued to deterorier in December, weighed down by the crisis on the European and American markets. Beijing also announced yesterday that it would limit foreign investments of car manufacturers on its soil to encourage its domestic industry. China is now the biggest car market in the world.

As for currencies, the euro barely back on their feet after the sudden drop against the dollar yesterday. Faced with the Japanese currency: the European currency this morning is 100.28 yen

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Quick Tips

Emergency Savings

Emergency savings.. Something we all know that we should have but somehow most of us never implement them into our financial goals. Emergency savings are for life’s unexpected disasters, such as the loss of your job, your phone breaks and its vital for your job or maybe you run out of money in a foreign country and you desperately need funds to get home. They are not for splurges, or holidays!!

Most experts recommend around 3 months worth of emergency savings no matter what your age, three months savings means your monthly income x 3 so if you earn £1000 a month you should have or be building up to £3000 in emergency savings!

The 20% Savings Rule

Many personal finance gurus recommend that you should be saving at least 20% of your income and putting it aside towards savings priorities, such as; a down payment on your first house, emergency savings or perhaps even just general savings. It is widely thought that this is the ideal amount to save as it allows you a pretty hefty savings contribution per month that will soon add up and it also allows you enough money to LIVE. Which means to pay your expenses and have fun.

Let’s just say you earn £1000 a month which is a pretty average monthly take home pay among young adults around the age of 20. If you save 20% that means £200 a month which over the course of a year will add up to a whopping £2400 Which can pay for a lot of things and contribute towards your priorities.

Just a little quick tip to keep in mind!

Save £1.00 A Day

For those that are on an extremely tight budget; saving just one pound a day can yeild massive results in the long term provided that money is well placed wether it be invested or stored in savings. Let’s look at savings without intrest 1 x 365 is £365.00 a year, which does not seem like a lot but let’s just say you do this every day for 50 years you would amass an impressive £16,000 in savings. Just imagine how much you would have if you changed that one pound into two or three pounds a day.

Let’s look at the calculations over 50 years if you added 5% intrest! Over £79,000.

The message of this short quick tip post is that small savings now will add up to large sums over time thanks for the power of compound intrest!

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The Three Budgeting Catagorys YOU Need!

As a teenager budgeting is very simple; most people (I used to be the same) live under the perception that ‘I’m too young to have a budget’ or ‘I don’t need one’ when in reality having a budget is one of the best things you can do to ensure that you always have money and that you are working towards your financial goals!

If done realistic and appropriately budgeting is one of the most simple personal finance habits you can develop and it can be extremely pain free if you follow the advice outlined below. I try to split my budget into three Categories and add to it as and when needed. the three Catagories are below. P.S I always keep my savings and spending money in different bank accounts for boundaries and less confusion! 

Spending – this budgeting category can be literally be used for anything you want for money to ‘piss away’or money to go on your next big holiday. Spit As much money as you want into this category it’s usually recommended to put anywhere from 50-60% of your income into this as it’s important to remember that we need to live a little and remember that investing in experiences is possibly the best investment a young teenager can make.

Saving – this category Is used to store your income that you do not want to spend. I lit around 65% of my money into this. Your savings can be used for anything you want really however, personal finance books such as ‘Rich Dad, Poor Dad” tend to advice you to only buy invest able assets with your savings and anything that is not invest able should be bought with your spending budgeting category.

Investing – This category is the wealth builder. Over 90% of my current net worth is in invested assets. Currently my savings only buy assets I try not to use savings to buy luxury such as holidays as I personally see it as something that can be covered by my spending. The investing category includes anything such as bonds, stocks shares, gold, silver, equity!

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