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Archives for : April2012

5 Ways: How to Save Money If You are Poor (Such as Me)

Due to the fact you don’t seem to be money, does not imply you should not save some. Technically, my income is below the poverty line in Canada, and by ‘technically’, I mean that it is. When you are much like me (no special skills, suck at math/ science and socially awkward) it is important to enjoy thisit’s conserve lots of and do what others are afraid, scared or mostly embarrassed you want to do. First, lets be apparent, be plain, be manifest, fantastic have a job and don’t just want to work at all then sorry, I can’t assist you to. You must have at the very least some motivation to get results, and in case you may not, that you can never to Have the 5 steps anyway.

1. No Debt - If you’re bad (like me), and you really have debt, or worse, excellent interest credit debt, it happens to be almost unworkable to acquire ahead. Even in the event you save and they are suitable enough to receive a decent return in stocks, the 20% interest on consumer debt effectively cancels out any returns, and you are nevertheless within the hole. So repay your debt, or never go into debt.

2. Set Achievable Goals – If you’re inferior, the benefits procedure starts off very slow and is frustrating when you’re trying hard to save lots of but have rather minimal to show because of it. You need to start small; save $50-100 per pay check and build upwards from there. Among my favorite little objectives is to not invest more afterward $5 a day on discretionary goods including food. Some days I go technique over but should you are struggling hard, you may protect additional.

3. Think Long Term – Investing is an accomplished marathon not a sprint. The money that you save ought to be put away until you are financially secure. Being a lengthy expression trader sounds simple, however when you arise one day and all your valuable investments are down and doom and gloom is preached on the tvs, the fast item to do is market. Not to mention, the iPad you usually sought just went on sale. Can you cave and spend? (Wait, iPads never go on sale)

4. Imagine and Act Independently - I find this the hardest thing to do for many people. Mostly, individuals are slaves to society and what others deem as common. In my belated kids, early 20s, neighbors of mine would invest a lot of money partying/ drinking, going buying or collecting DVDs. You need to create your path. Should you want to attain ahead financially, and you’re lousy (like me), you simply can’t afford to do the above mentioned aspects constantly. Otherwise you’ll merely be like everyone else; actually more inferior and in debt.

5. Consolidate Your Expenditures - If you’re bad, and you merely create sufficient to pay for lease, you need to decrease your fixed expenses if you need to get ahead. The easiest way to do this really is to locate roommates to move in with, or downsize your residing area. Perhaps there’s a good basement apt in a neighbourhood that has some character (ghetto) that might cut your lease bill in half. In the event you took on too big a mortgage, admit your mistake and market your house to downsize. As a renter, go the roommate path or find an appreciable different to split lease. Id suggest moving back with parents as an extremely previous resort b/c it’s not worth entering debt if your merely getting by.

Maybe there could be a number 6, embrace thrift. We don’t need 95% of what we buy. Should you spend $20 a day on any amount of things, that’s $7300 a year, a decent amount to start saving. The more thrifty I receive, I realize how society shapes us to consume items we don’t need. As a kid, I employ to feel sad after I purchased an expensive pair of shoes because I knew I didn’t need them as well as wouldn’t make me any happier. All that has been left had been a entire in my pocket and empty feelings. stock tips Remember that feeling, because you don’t need to feel like that again should you take control and act independently

Rajoy reiterated that the expropriation of YPF “is not fair and not good”

The Spanish prime minister, Mariano Rajoy, reiterated today in Bogota that Argentina’s decision to expropriate YPF “is neither fair nor good,” without further action by the Council of Ministers on this matter tomorrow.

“What has been done is not fair or good, and is much worse than for Spain to Argentina,” said Rajoy in a press conference with President of Colombia, Juan Manuel Santos, after meeting at the Presidential Palace, home of Colombian executive, as part of his official visit to this country.

The Spanish prime minister and again referring to the Argentine government’s decision to expropriate 51 percent of the shares of Repsol YPF’s hands, and after that country’s Senate gave its approval yesterday, commissions, the decision.

“I think what has been done an injustice, not a subject of Spain, I think that relations between countries and people rely on the good will in his word, freedom are principles and values,” said Rajoy.

The Spanish prime minister also made clear that the expropriation of YPF will not have an effect of expansion in Latin America, but rather, as there are countries like Colombia willing to receive foreign investment.

He dismissed the controversy so far “will raise questions about the rest of Latin American” and as for Colombia remarked that “it is a serious country, that fulfills its commitments with certainty assured.”

“What I have come to do here is to encourage Spanish investors to work in Colombia, who win bids, to ally themselves with Colombian businessmen,” said Rajoy.

Meanwhile, Colombian President also said that Argentina’s decision does not affect “the region as a whole.”

“We are friends of Repsol, are here in Colombia, will be screened along with Ecopetrol in the north, where we have a potential gas production, we are friends of foreign investment and give them stable rules for feel comfortable, “said Santos.

“We do not expropriate,” Santos said Rajoy hours before a forum of business prior to the formal meeting of the Presidential Palace.

With these statements Rajoy and Saints have made it clear the partnership in investment between the two countries and also the rejection of Argentina’s decision against Repsol, one of the largest Spanish companies with investments in Latin America.

Pastor reiterates its commitment with the Central Crossing Pyrenees

The Minister of Development, Ana Pastor, today reiterated its commitment to Central Crossing Pyrenees (TCP) and work to be incorporated into the trans.

Ana Pastor has been commissioned to pronounce the conference honor Pilot Forum has closed today in Zaragoza on “Infrastructure and Logistics, boosting competitiveness.”

With the motto “Innovation and Improvement competitive,” Pilot Forum 2012 has tried to present experiences constant search for innovation in manufacturing processes and distribution of goods and services, trying to get maximum efficiency to be competitive in the markets international.

For Shepherd, this forum is “a great success” because it involves creating a space to value innovation and improve competitiveness in domestic and international markets and create new jobs.

The minister underlined the “obligation” of the Government of Spain to rethink the current model of infrastructure, efficient planning and open to the private sector.

And it explained that the government will find ways of public-private partnership, which also will require changes in the conditions governing the concessions.

What will not the Government of Spain will be structures “useless” to “impoverish us,” and will become the AVE station that “we can afford” and highways so that “we use all”.

This is the reason that when planning the State Budget must be rigorous and them “thinking of those who have less” and infrastructure needed and therefore also need economic and structural reforms “not to toil away at not have, “he said.

According to the minister, Development wants to focus in the coming months to support the carriage of goods by rail and explained the various projects underway to do so.

In addition to providing infrastructure and resources to promote innovation, improvement and competitiveness of the logistics sector, Pastor has said that is not going to abandon investment in R + D + i.

“Innovation and development has to be the engine that leads us to break the barriers of the future” said Ana Pastor, who has indicated that the purpose of infrastructure is helping to create jobs, wealth, social cohesion and territorial balance.

Meanwhile, in his speech to close the forum, the President of Aragon, Luisa Fernanda Rudi thanked the minister’s commitment to “fight” as important a strategic project for Aragon as TCC.

The Bank of Spain proposed a new alternative to the Euribor mortgage rate

The Bank of Spain has today released for public consultation a draft circular which proposes a new benchmark 5-year mortgage as an alternative to one-year Euribor and that experts consider more stable in times of crisis.

This index, known by IRS (Interest Rate Swap) reflects the price of money to a longer period than the traditional one-year Euribor and which remains the most widely used indicator in Spain.

This new standard will help those who prefer to hire a fixed rate mortgage is designed to provide greater stability in quotas, but also provides greater security to the bank, which can better anticipate their income.

Being a longer-term index traditionally used to be above the Euribor mortgage to a year, which means more expensive mortgages.

However, financial stress, the IRS to 5 years has been below the Euribor a year, thanks to the first index does not include risk premium, making it more stable in times of financial turmoil.

In addition, the new circular of the Bank of Spain, which will be public consultation until May 9 for institutions to have their say, including a raft of proposals to introduce greater transparency in the relationship between customers and banks.

For example, requires lenders to be extremely rigorous with explanations to customers before they sign any contract.

In the case of loans or mortgages, should be included in the explanations are insufficient data to enable the client to calculate its own capacity to meet payment obligations in the future.

And if the loan includes a guarantee of third parties (guarantors), they must be informed in detail of the responsibilities they assume.

The new circular also proposes to highlight the key concepts of the contract, bold or capital letters, and is collected in the header of the documents before the contract a warning message to the client that the information highlighted are “particularly relevant”.

The Bank of Spain’s proposal also states that the letter to be used in the information documents have a size (more than two millimeters) to make it easy to read and finish with the famous print of the contracts.

Another of the peculiarities of the proposed new circular is the obligation of institutions to communicate more clearly the interest rates and commissions normally applied to their services more frequently.

Santos guarantees to Rajoy that in Colombia there is not expropriated

Colombian President Juan Manuel Santos, has opened his country to the Spanish companies and assured the head of the Spanish, Mariano Rajoy, who will find no surprises in Colombia are met because the game: “here is not expropriated, President Rajoy “he underlined.

Santos, which yesterday sent the same message to executives of leading Spanish multinationals, wanted to repeat today before Rajoy, who opened the Forum of Investment and Business Cooperation Spain-Colombia, in the involving over 200 small and medium enterprises (SMEs).

After receiving the support of Mexico in the conflict with Argentina over the expropriation of the Spanish Repsol 51% of its shares in oil company YPF, Rajoy has heard the words of support from the Colombian government in its first visit to the country.

As explained by Santos, the only conditions imposed by the Government is that employers are “social responsibility and environmental responsibility.”

“If they win ‘silver’ better because it will revert to the Colombian tax system,” joked the Colombian president.

Faced with Colombian businessmen, Rajoy has praised the legal and political stability offered by this South American country, and highlighted the leadership and international experience of Spanish companies in sectors such as infrastructure, energy and telecommunications.

He recalled that Colombia will undertake in the coming years large projects that require experience, so that opens “a valuable opportunity” for collaboration.

Santos has endorsed his words because his country, he pointed out, is “far behind” in infrastructure and want to make a huge effort to be competitive, which requires “big business” as the Spanish, but also the cooperation of SMEs.

“We need capital and need your experience,” he reiterated, citing the opportunities for investment in biotechnology and the food industry.

The Colombian economy has sustained growth above 5 percent and its president has stressed the importance of this market for Spain in the “difficult times” with those who have to deal Rajoy, who has stated that there is no “magic formula” to exit the crisis.

Rajoy has stated that the cumulative figures between 1994 and 2010 firmly established Spain as the third largest foreign investor in Colombia and that Spanish companies in the Andean country generated 70,000 direct jobs and 80,000 indirect jobs.

He wanted to invite the Colombian investors to consider Spain as one of his potential destinations, gateway to the great market of the European Union (EU).

YPF managers negotiate with Total to increase gas production

Managers of Argentina’s oil, in the process of expropriation of its majority shareholder, the Spanish Repsol, agreed Tuesday with France’s Total to negotiate the conditions for increasing gas production in areas both companies are related, officials said.

The negotiations were launched by the Minister of Planning and Controller of YPF, Julio De Vido, during a meeting with Ladislas Paszkiewicz, director of Total Gas, said an official statement.

They also agreed to work to expand joint exploration plans, he adds.

Total managers “expressed confidence in the expansion of these programs this year and confirmed their willingness to expand” the activities of the French company in Argentina “while maintaining the planned projects.”

In principle, it aims to increase by two million cubic meters of natural gas production fields Pichana Aguada and Aguada San Roque in Argentina’s Neuquen province (south) Total operating within a consortium with YPF and Pan American Energy, of Argentine, Chinese and English.

These deposits represent about 20 percent of the total gas production of Argentina, said the official.

Total operates in Argentina six hydrocarbon deposits, with shares of between 24.7% and 37.5% and has a 2.51% share in a seventh field, according to the company.

The oil company Pan American Energy (PAE) is owned by a company to parts between Argentina’s Bridas, which China National Offshore Oil Corporation (CNOOC) has 50%, and British Petroleum.

New record high price of gasoline, up 10.7 percent

The average price of gasoline of 95 set a new record if sold at service stations to an average of 1,499 euros, up 10.7% over the same period of 2011, according to the Oil bulletin European Union .

Since the last newsletter, April 4, the price has gone up 0.07%, while diesel is down 1.22% from the previous reporting average prices up to 1.375 euros.

At this price, half fill a gas tank (55 liters) costs 82.44 euros this week, and diesel, 75.62 euros.

With respect to the same period a year earlier, this means paying 7.97 euros to fill the tank in case of petrol and 3.68 euros in the case of diesel.

With these values, the gasoline exceeds the previous record of early April, when it was sold to 1.498 euros and 0,001 euros gets to reach the barrier of 1.5 euros per liter.

Gasoline exceeded the 1.4 euros in late February and has since scored seven consecutive increases. In the last month prices increased 3.31% and the increase from earlier this year is 10.38%.

Meanwhile, oil has dropped 1.08% last month and 1.72% from its high, which stood at 1.399 euros in mid-March.

However, prices increased 6.42% over the same period last year April and 2.92% since early this year.

A barrel of Brent crude, a benchmark in Europe, currently trades in the vicinity of $ 118.

Gasoline 95 octane unleaded sells for an average of 1.689 euros per liter in the EU-27 and the euro area is paid to 1.722 euros per liter, while the price of diesel is 1.522 euros and EUR 1.504, respectively.

Deutsche Bank believes that Spanish banks need public funds

Deutsche Bank considered “priority” recapitalize the Spanish financial sector and believes that this will require an injection of public money that could come from Europe, although the Spanish government is reluctant.

Explains the bank said in a report released today, one of the reasons that it must be the capital of Spanish banks is because they have not fully recognized real estate losses.

Deutsche Bank warns that the price of housing in Spain has dropped “only” 15% three years after the bursting of a housing bubble similar to the U.S., where prices fell nearly 30% in two years.

That would explain in part the fear of markets for the Spanish financial system and to the country as a whole in case it can achieve its deficit targets.

The bank also argues that some of the distrust is due to doubts about the government’s ability to control the deficit of autonomy, adding that did not help the “poor communication” and “hesitation” by the government on fiscal consolidation.

As an example, the review “unilateral” budgetary targets for 2012, but adds that the government “forced back by its European partners.”

In any case, the bank argues that the recession that Spain is not a “free fall” and re-emphasized the country’s solvency.

So is confident that the country’s debt levels will remain at around 85% of GDP in 2014, when the Spanish economy should grow between 1 and 1.5%, as did Germany in the late 90′s and early 2000.

Post paid 12 percent less and adjusted up to 2,000 jobs in 2012

The state-owned Post Office this year will adjust its workforce by about 1,900 or 2,000 people to adapt to falling demand, causing a decline in operating income from 12% to 1,788.9 million euros.

During his appearance before the Committee on Budgets of the Congress, the president of Post, Javier Cuesta, has said that the consolidation of jobs is part of a plan agreed with all stakeholders and “absolutely necessary” for the company.

The job cuts will take place through voluntary redundancies or transfers of officials of the Postal Administration of the State, among other measures, said Cuesta, who has said that the company is required to conform to the “maximum speed possible the rapid fall in demand. ”

Cuesta explained that the decrease in expected revenue for the array of Posts and Telegraphs is mainly due to the fact that this year there will be fewer elections and the decline in sales to electric utilities (since electric bills become bimonthly instead of monthly) and falling demand.

The company expects to close the year with gross losses of 166.5 million euros, up from 3 million in 2011, although the figure depends on the grants received this year by providing a universal service, initially budgeted at 0.5 million euros for 2012.

The manager has lamented the competition from companies using business models “low cost” and act in the most profitable services, while benefiting from a competitive “very favorable” and take advantage of the investments made by post.

To try to balance the books, Post will also act on the revenue side, with the strengthening of its presence in the telematics and the application of new technologies to enhance its portfolio of products and services.

Also, will enhance its presence in new markets, such as parcels, financial services or other products based on the capillarity of the network of Post Office.

This year the company will invest 74.3 million euros in infrastructure, mechanization, transport and computer systems, among other segments.

As for the group’s membership in the Society Postal State Participations (SEPI), Cuesta has found that help to define an action plan and has welcomed move to an institution that “has historically helped companies public. ”

Regarding the current Plan 2011-2014, has said that “lacks action” and caused last year’s results were “lower than they should have been,” so that one of its short-term priorities will be to develop another strategy.

The EC sees Italy budget revision in line with its forecasts

The European Commission (EC) considers that the revision of growth forecasts and deficit for Italy to 2012 “is in line” with the calculations of the EU executive, and together with the adjustment measures taken will enable the country to achieve a substantial primary surplus in 2013.

“Our initial view is that the Italian Government’s revised projections for 2012 are in line with the interim forecast released in February,” when the European Commission said the Italian economy would shrink 1.3% this year, said spokesman Community, Olivier Bailly, in the daily briefing.

Mario Monti’s government has revised downward the economic growth this year, encrypting the contraction at 1.2% of GDP compared to 0.4% above, and has increased its estimate of tenth public deficit to 1.7% of GDP.

“The two analyzes are now in the same line,” said Bailly.

“We believe that the new budgetary target presented by the Italian government seems to be consistent with the revised economic scenario,” he said.

The European Commission also believes that full and consistent implementation of fiscal measures already adopted will enable the country achieve a “significant primary surplus, before interest payments, in 2013, which is the fixed policy objective” by Monti.

Brussels also assessed the final approval by the Italian Parliament introduced reform in the Constitution requiring a balanced budget, because this step sends “another strong signal of commitment to fiscal discipline.”

In 2013, the Italian government plans to reduce the deficit to 0.5% of GDP, four tenths higher than originally planned.

Beyond 2013, will be “essential” that Italy maintain sound public finances in order to reduce its high public debt of 120.3% of GDP in 2012, and ensure macroeconomic stability and low interest rates to funded at a reduced cost and meet the requirements of the Stability and Growth Pact, which limits debt to 60% of GDP and 3% for the deficit, the spokesman said.

Italy also must address the structural weaknesses and build on and develop their full growth potential.

“The next step is therefore crucial for us the approval by Parliament of the labor market reform,” he said.

Italy will have to submit, as all other States community until the end of the month its stability program and reforms will have to detail the measures it intends to take this year and the coming years to meet the objectives.

The Commission will issue its recommendations by country on May 30, according to Bailly.