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Washington has failed us again!

The Congressional “Supercommittee” was supposed to come up with recommendations to help reduce our projected deficits but it failed miserably. (If you don’t know what the “Supercommittee” is, don’t feel bad – most American’s weren’t aware of its existence.)

America is now heading toward a fiscal meltdown that will make our current economic and employment challenges look like the good old days. And we could get there within two years, if we continue to do nothing. We must change course soon.

Once American voters understand, we’ll be able to pressure Congress to finally act. Please take 5 to 10 minutes to complete the Fiscal IQ Quiz, and encourage your friends, family and others to do the same ( Twitter). Together, we can fix our country’s finances and keep America great.


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Frauds in the Banking Sector

Large amounts of resources, energy and time are utilized in development of organization policies, implementing of control systems, risk managing strategies and training of employees to ensure that they follow these measures. However, it is unfortunate that banks and organizations still fall prey to fraud. This is due to the factor that organizations do not take time to fathom the risks involved, the causative factors and how to hinder fraud activities. Therefore, in order to ensure that banks and organizations impede fraud occurrences, it is of great significance comprehending the major causes of fraud and the most effective ways of preventing and controlling fraud in banks. By understanding this, banks will be in a position to prevent revenue loss, improve business quality and maintain a good reputation.

Causes of bank frauds

There are various factors that lead employees to indulge in fraud activities. They include:

Financial Issues

Employees are trusted individuals who can turn to trusted violators in case they perceive themselves as having financial problems which can’t be shared but can be solved through violation of the financial trust they have. An employee could be under great pressure due to various issues that he/she considered non sharable. Examples of such issues include: violating obligations, business reversals, personal failures, and demands of gaining status, isolation from associates and friends and issues in employee-employer relationship. Notably, issues that are non-sharable to one individual may be different to the other hence this may not be only issue an individual is facing. Eventually, as an individual undergoes through much pressure, it is more likely that the individual will indulge in fraud once an opportunity arises.

 

5 Steps That Must Be Done If You Want To Rebuild Your Credit Score

All financial institution keep a record of their customers which is used to determine their credit discipline. A credit score is a numerical figure of a person based on the analysis from their file records. The report is used by banks and credit stores to gauge lenders creditworthines. The institution mandated with the responsibility of determining the credit score is known as credit bureaus.

The report prepared by the bureau rates your score and based on your discipline, the lenders decide on whether to lend you or not. A good credit score ranges from 300-700 with any figure above that being exceptional. A figure below 300 is considered poor. Report by FICO score, reveals that about 66% of Americans have a good credit score. Customers with high ratings are less risky and are likely to be granted a loan, whereas low rating ones pose a threat of default. A good credit score attracts higher loans at low interest. Credit rating helps lenders know which loans are likely to be bad debt and those that will bring a lot of revenue. People with poor credit score are advised to engage in steps that can help build their scores.

 

In The Age Of Bitcoin, Are Gold Fundamentals Still A Good Decision?

Bitcoin, the first cryptocurrency, still maintains its number one position years after its creation. It uses block chains which is a shared communal documentation of transactions in the creation and tracking of new types of digital tokens. A digital token is one that can only be created and shared depending on the agreed-upon network rules.

Bitcoin led to the emergence of digital currency which has enhanced transaction speed. It does not exist in physical form. When you have a bitcoin, your worth is determined by collective agreement between any computers that are on the bitcoin network. Also, the legitimacy of the creation of your bitcoin by the bitcoin “miner” matters a lot.

In case you want to own this cryptocurrency, you can either purchase from someone else or mine some on your own. The problem with being a miner is that you have to invest in internet and also electricity bills. As a miner, you have to build blockchains. You purchase them from another person using usual money normally via bitcoin exchange.

 

7 Things You Never Knew They Are So Money Consuming

We all have bought something and later came to realize that it is actually of little benefit. The desire to fit in a given social class, competition to “keep up with the Joneses” and addiction are some of the drives that lead us into wasting money. A person may decide to buy the latest product on the market to keep up with the trend. You just landed a promotion and the first thing you think of is securing a mortgage for that dream home you had. In another instance, your friend John who works at the fast food stores at the gas station wants you to go for a ride every weekend downtown.

After some time, you begin to think of investment but you realize you have little income to drive you. Suddenly an eye-opener comes and you start seeing leakages from your income statement. That expensive watch that you rarely ware, the house you do not even have time to stay in or the numerous trip journeys that you could have avoided. This article b seeks to address money leakages that most people encounter. Below are some of the money consuming substances that one needs to avoid.

 

Planning Investments? Here Are 6 Useful Tricks On How To Gain Maximum From Them.

An investment is an asset acquired with the intention of future appreciation. Activities associated with financial investment include real estate investment, purchasing bonds, stock acquisition, etc. An investment can be autonomous or induced in nature. Whereas the induced investment depends on income, autonomous investment is dependent on an exogenous function like population growth. Investment can be made by private members in the economy (private investment) or by the government and another public enterprise (public investment).

The benefit that comes from the investment is known as a return. In finance, the return comes in the form of a capital gain, share dividend, interest on bonds or even income. To project expected future benefit for investment, financial accountants use the projected amount in the valuation. Some of the determinants of investments include interest rates, internal rate of return, expected future flow of income, the initial cost of capital and the degree of certainty.

Before an investor makes a decision on whether to focus on a given portfolio, they need to take cognizance of certain factors.

Below are six useful tricks when planning for investment