Money Bags Full - Finance Blog

Research Potential Employers Online

17:16

Angel

When you start a new job, you want to know what type of company you're going to work for especially in the current market. With redundancies and foreclosures common place, you should have all the facts before you accept a job offer.

There are so many ways that you can investigate a company, including looking into their accounts and searching for customer reviews. In the end you need to know whether that particular company is going to be a good place to work, which includes paying you on time and doing well financially. These tips will allow you to brush up on a company, but beware take reviews and comments with a pinch of salt.

Have a look into the company’s finances:
In the end a company that is going through a rough patch is not going to be a great place to work, as in most cases you will be expected to deal with situations arising from their unfortunate financial status. You may also be faced with redundancies and a negative atmosphere in the office. You should make sure that the company you are applying for has a solid financial status, by completing a company search you can gauge the success of a company. You can also see whether they have been involved in any litigation proceedings.

Have a look for employees on social networks:
You can generally measure the atmosphere in an office by looking at past and present employees’ presence of social sites. LinkedIn is especially good for this as you can see how long people worked at the company. If the company has a high turnover of staff then you may find that the company is has difficulty holding on to staff, although certain sectors will have a naturally high turnover, especially sales. You can also see what present employees think of the company - they may have statuses about working there. You can also see what customers think of the company by looking at mentions on Twitter and online reviews.

Have a look at competitors:
Who are its competitors and how do they compare? You can compare wages, job descriptions and financial situations with companies in the same industry. This will give you some idea of how the company is doing and whether they are offering a fair wage for the job you will be doing for them.
It is important to fully investigate a company before you start working there. In this current climate it is important to secure a job with a reputable firm, as redundancies and insolvencies continue to dominate the headlines. Many of these hints and tips will give you an insight into a company, but don’t forget to trust your instincts.

15:31

Angel

We love money making ideas and here are five ways to make money fast and easy.

1. Be paid for your opinion – online surveys
This is a sporadic and relatively small income but it’s low effort and you’ve nothing to lose. It’s a great way to make quick cash from the comfort of your computer but make sure you NEVER pay to join a site or reveal your credit card details.

For maximum earnings, we recommend that you setup a separate email account (so your personal one doesn’t get flooded with survey related emails) and then register for free to all of them. For example LightspeedToluna, Opinion Surveys and GlobalTestMarket.

2. Enter competitions
Entering competitions of course isn't guaranteed by any means of generating money, but as the old saying goes "You gotta be in it to win it!’ Your chances are often a lot better than you’d think, especially entering competitions on smaller websites. Competition websites such as 'Prime Prizes' is free to join and has plenty of fantastic goodies up for grabs, including luxury holidays abroad, hampers, shopping sprees and more.

3. Payday Loan
One way of securing short term cash is via payday loans. If you're desperate for something to ease your immediate troubles this could be a temporary solution, as long as you do your research.

4. Switch your current account
Some banks will pay you to switch accounts, for example switch to a First Direct 1st Account and they will give you £100. What’s more, if you’re not happy after 6 months, First Direct promise to help you move banks and pay you another £100 for the inconvenience. In the words of First Direct, ‘That’s £100 if you like us and £200 if you don’t.’ Easy money!

5. Got an old or broken mobile?
Did you know that you can be paid to recycle your mobile phone? It’s an easy way to make money and good for the environment, too! Depending upon the make, model and condition of the phone you could earn anything between £1 and £200!

Other ways to make money fast and easy include selling old stuff you've collected over the years on Ebay or at a local car boot sale. Any other ideas of course are welcome by commented below and we will include them in part 2.

13:11

Angel

There are places in England where you can find money trees! Sounds good doesn't it but no, money isn't growing on trees unfortunately. People passing through the woods have been stopping for decades and meticulously hammering small denomination coins intro trees. Nobody knows for sure why people pushed coins into the trees. Some believe it brings good luck. Others believe that the amount of coins pushed in by an individual may result in them producing the same amount of children. Most of the trees seem to be in and around Cumbria and Portmeirion. According to an article by the BBC, the practice might date back to the early 1700's in Scotland where ill people stuck florins into trees with the idea that the tree would take away their sickness.

More money tree photos on this Flickr group

12:10

Angel

Now that all of the Christmas festivities are over, you might be examining your finances in horror. Perhaps you spent too much on the kids, you went on a holiday that turned out to be a bit more extravagant than intended, or you did too much partying over the festive period. No matter what the problem is, you are probably wishing that in January 2011 you had started planning. Now is the time to reverse this scenario so that when 2013 begins you will not be feeling exactly the same next year.

In order to begin saving for next Christmas, you need to try and work out how you are going to survive over the next few months. One way of obtaining a short term cash flow is to compare payday loans using a site such as MoneySupermarket. If you are desperate for something to ease your immediate troubles this could be a temporary solution, as long as you do your research.

After you have completed this step it is worth making a plan of incomings and outgoings. Try to be as thorough as possible when doing this so for example think about how much you pay each month for things such as rent, childcare and general expenses on food and drink. Once you’ve done this you might realise that it’s time to kiss goodbye to those small weekly luxuries such as purchasing lunch every day – why not make lunch at home instead? Or instead of going to the cinema on a Friday night, invite friends round to your home and watch a DVD. Small savings can make a big difference in the long run.

You will soon start to see an improvement and instead of having an empty bank account at the end of each month, or venturing into that dangerous overdraft zone, you will create a growing stockpile of cash.

It is worth setting up a savings account to transfer this cash into so that you are not tempted to start slipping back into bad habits – instead you will have enough to enjoy Christmas this year, proud that you have managed to sort out your finances with cash to spare.

13:01

Cool Stuff

Featuring 10 of the richest young guys who have made their fortunes on the Internet. You all can all probably take an educated guess who's at number 1 but who are the other achievers that made the websites and products you use every day?

Mark Zuckerberg

Facebook

23 years old

$700 Million

Andrew Gower

Runescape

$650 Million

Chad Hurley

YouTube

$300 Million

Blake Ross and David Hyatt

Mozilla

$120 Million

Andrew Michael

Fast Hosts

$110 Million

Angelo Sotira

Deviant ART

$75 Million

John Vechey

PopCap Games

$60 Million

Alexander Levin

Image Shack

$56 Million

Jake Nickell

Threadless

$50 Million

Greg Tseng and Johann Schleier-Smith

Tagged

$45 Million

12:14

Angel

A great moneybagsfull related photo here that sums up nicely the current financial climate. Corporate greed is destroying America whilst a guy in a Ferrari drives past and checks out the protests! People over profit...yeah right, you think this guy is bothered?

18:59

Angel

Today we write about switching current accounts and what questions to ask in order to find the best current account for you. Switching current accounts has recently been in the news because the process of switching current accounts is about to get a whole lot easier. Last week’s government report will trigger the biggest shake-up in banking for years.

Among the Independent Commission on Banking’s recommendations is that it should take no longer than seven days to move banks. It also wants a new “redirection service” so that direct debits are moved over without delays. Currently many of us are put off by the time it takes to switch accounts and the hassle involved resulting in customers on average moving only once every 26 years! Because of this, millions of us are putting up with below average levels of service, steep overdraft charges and poor rates of interest when in credit.

The Independent Commission on Banking’s recommendations should come into effect by 2013 but consumer experts say you shouldn’t wait until then to switch. Banks have started to employ dedicated switching teams and the process of switching accounts is much slicker than it was a few years ago.

Comparing current accounts can be really difficult, however, as the right account for you will depend on how you use it. For most, the biggest charges are for when you go overdrawn but each of us goes overdrawn in different ways. Some people dip into their overdraft a few days a month while others are always in the red.

How to find the best current account for you
In order to find the best current account for you there are a few questions you need to ask banks you are considering joining and they are as follows:

Overdraft Charges - know the score!
The most popular annoyance with banking customers! An overdraft means you have withdrawn more money than is actually available in your current account and when you do this, more often than not you will incur charges from the bank. Unauthorised overdrafts are particularly expensive to absorb. Some lenders permit you to increase the limits of the amount by which you can be overdrawn so look out for these.

Ask about online statements
Ask if the bank will provide bank statements online on a continuous basis. Some lenders do supply online bank statements but only for a certain period. Other banks only post online bank statements for the current month. Be sure which applies to you.

Internet Banking 24/7?
Internet banking has made banking easy but did you know that some banks turn off their online banking services at graveyard hours (from midnight to 7am) so that maintenance work can be carried out on their online banking system. If you're a night owl who would be doing your online banking during these hours then you will need a bank whose online banking is open 24/7.

Find out about online bill payment
Ask if the bank allows online bill payments using funds from your current account. Most banks even provide an automatic bill payment option to take the burden of having to remember to pay your bills each month off of you.

Can you manage standing orders?
Look for a bank that allows you to manage standing orders via the online banking system. If you opt for a direct debit arrangement, don't forget to finalise the direct debit arrangement with the company you will be paying.

Is the bank service oriented?
When you're asking these above questions to your bank, are the staff polite and knowledgeable, or do they act like they prefer that you leave them alone? Little things like this are warning signs that maybe you should try finding the right current account for you elsewhere.

If you are a student, ask about student accounts
If you're a student, it most certainly will benefit you getting a current account which is called a student account. You should be concerned primarily about interest rates and borrowing limits offered in the student account.

and finally
With so many current accounts available these days, it takes knowledge, patience, and sometimes a bit of luck as well to get the right account for you but asking the above questions will help you get off the the best possible start.

20:56

Angel

Remember that old expression ‘look after the pennies and the pounds will look after themselves’? Well this useful little proverb is now more valuable than ever, as the difficult economic climate takes its toll on bank balances across the country.

When it comes to pinching the pennies of your monthly budget, there is no better place to start than on your trip to the supermarket. Follow these 5 top tips to ensure that you make it in and out with the least damage to your savings as possible.

Planning
This is, without a doubt, the most important piece of advice that I am about to impart – so listen carefully. Do not be tempted to leave your home without a well honed list. Sit down before you leave for the supermarket and plan your shop with military precision. Ideally you should plan out exactly what you are having for each meal and the ingredients involved. You now know that if you stray from the list then you are buying on impulse – which is where money is wasted and is exactly what the supermarkets want you to do.

Experiment
One thing that is often difficult to do is to deviate from your favourite brands, regardless of the expense. You may have a favourite brand of tomato ketchup which you have only ever eaten but how will you ever know that a competing brand (that is also cheaper) isn’t to your liking as well? So why not branch out and experiment with some different options? Even better than that, give some of the ‘budget’ label-less items a whirl – which are often simply the same product as their more expensive equivalent, without the fancy packaging that is so enticing.

Stay sharp
Is there a more enticing sight in your local supermarket than ‘discount’ or ‘sale’? I would suggest that there isn’t, but with this in mind you must still be on your guard when purchasing any items labelled in such a fashion. These discounts, often advertised by large lettering and lurid colours, may work out at only a very small price cut on an item that you would never have normally considered buying.

Keep an eye out
Supermarkets invest many millions of pounds each year into making sure that their stores – the layout, the music and the colours – encourage you to spend as much money as possible. These tactics range from intentionally wafting the smell of freshly baked bread around the store to encourage you to buy their fresh loaves, to placing sweets and magazines by the till in a position that best lends itself to impulse purchases. One particularly cunning tactic employed by the supermarkets is placing their most profitable items at eye-level, counting on the lazy customers to choose simply the easiest products to find, so for the real bargains make sure to use your eyes and look up and down.

Compare and Contrast
Price comparison websites should be second nature to anyone who has recently looked online for the cheapest travel insurance, holidays or credit cards – but did you know that there are many sites now which will compare the price of an average shop at a selection of the biggest supermarkets? By using these sites you can ensure that you are shopping at the cheapest possible supermarket, which is certainly a good start towards the cheapest possible weekly shop.

10:48

Angel

The footballer Samuel Eto’o will earn ’60p Per Second’ at football club FC Anzhi Makhachkala! Nice work if you can get it! The Cameroon striker will earn £350,000 per week and £17.9m a year after tax in a 3 year deal making him the world's highest-paid player

The super-rich Russians are paying Inter Milan £21million for the 30-year-old Cameroon striker who jets in to complete the formalities today (Weds 24th Aug). Anzhi are owned by billionaire oil tycoon Suleiman Kerimov who has sanctioned the mammoth wage deal that will see Eto'o surge past the rest of the world's top earners on the football rich list.

Inter Milan's Dutch midfielder Wesley Sneijder picks up £250,000 per week while
Real Madrid superstar Cristiano Ronaldo pockets £210,000.

Manchester City reportedly pay £38m signing Sergio Aguero £200,000 per week, a similar figure to team-mate Yaya Toure.

Lionel Messi - widely acknowledged as the world's best player - reportedly earns about half of what Eto'o will rake in as the Argentine is on a modest £180,000 per week at Barcelona!

10:12

Angel

One lone ticket in the UK won a record-breaking £161 million ($256) in Euro Millions lottery jackpot last night. Below we look at where this puts them in the UK rich list and also what types of luxury items they can now afford.

It's not yet known if the ticket belonged to an individual or a syndicate...or what part of the UK the winner is from. The winning numbers were:

17, 19, 38, 42 and 45
Lucky Stars were 9 and 10.

A UK National Lottery spokesman said: 'This is amazing news - we are absolutely delighted that a UK ticket-holder has scooped the entire €185m euro jackpot, which at the current exchange rate is a massive £161m.

Until yesterday's draw, the largest lottery winner in the UK was an anonymous player who claimed £113m in the EuroMillions in October last year.

This win has over night catapulted them into 430th place in this year's Sunday Times Rich List sitting alongside David and Victoria Beckham (£160million) and self-made millionaire and Dragons' Den regular Theo Paphitis (£170million).

Rod Stewart worth €129 million.
Jamie Oliver worth £106 million
David Bowie worth £100 million.

What £161 can get you.....
Here are some ways the lucky person or syndicate could splash their gargantuan pot of cash...

A room with a view
A penthouse overlooking London's Hyde Park was reportedly sold for £135 million earlier this year. Apartments at luxury development One Hyde Park, in Knightsbridge, have an asking price upwards of £6,000 per square foot.

Vintage Ferrari

If they want the country's most expensive car, they could try to tempt Radio 2 DJ Chris Evans to part with his 1963 Ferrari 250 GTO. He splashed out £12 million for the mint condition antique last year. The winner could also opt for a fleet of 107 Bugatti Veyron Super Sports cars – the most expensive street legal car available on the market today.

Art
Picasso's 1932 masterpiece Nude, Green Leaves and Bust fetched £70 million at an auction in New York last year – making it the most expensive work of art ever sold at auction.

Private island
For an exclusive getaway, they could buy Private Island Paradise, a 37-acre island in the Central Bahamas for £47 million. The isle boasts a luxurious manor house with it's own light house, a club-style dining and entertainment building with top-of-the-range gym, a heliport and infinity pool.

Champagne
Their winnings could stretch to several thousands of bottles of the world's most expensive vintages. In 2005 a Methuselah of Cristal Brut 1990 sold at auction in New York for £11,267.

Luxury food
If the winners fancy a snack to accompany the fizzy stuff, they could nibble on the priciest caviar in the world. A kilo of Almas caviar costs £16,000 and comes in a 24-carat gold tin.

Time piece
The Hublot Black Caviar Bang wrist watch is encrusted with more than 500 rare white diamonds and boats and 18 carat white gold case. They are a snip at around £630,000 each – meaning the winner can afford 255.