A lifetime mortgage is a financing option that most UK senior subjects avail in order to augment their limited income. It is a popular option that senior adults consider when looking to enjoy their golden years while their physical condition still allows them. Enjoyment here may include traveling or engaging in recreational activities, but without having to touch their “nest egg”, so to speak.
Unfortunately however, not all older adults resort to supplementing their pension or retirement money for enjoyment purposes. In fact, some do not even have enough money saved to even consider retiring at age 65. Although at that age, they can already draw benefits from Social Security. Still, additional costs of healthcare can easily deplete money set aside for a comfortable and secure life upon retirement.
Lifetime mortgage is a financing option that is available to older adults aged 55 or above, who at the same time, live in a property they own. Here, a senior borrows money based on a certain value of their equity on the property; but, without the usual requirement of making monthly payments. The arrangement entails deferring payment on the condition that the property will be sold upon the borrower’s death, or once it becomes necessary for him or her to move into a nursing home.
That being the case, only the residual and not the full value of the property will form part of the estate or legacy that he or she will leave behind to his heirs or beneficiaries.
Nonetheless, there are two types of approaches to choose from when borrowing money via a Lifetime Mortgage.
Two Types of Lifetime Mortgage for Seniors to Consider
When contemplating to obtain additional retirement funds by way of a Lifetime Mortgage, the first step to carry out is to determine the loanable amount against one’s equity on a real property. Since year 2019 is almost over, a better tool for computing the loanable amount is an equity release calculator 2020. That is because the calculator will factor in, the borrower’s actual age at the time the Lifetime Mortgage contract is signed.
Based on the amount calculated, a senior borrower can then choose between a Lump Sum or a Draw Down approach to taking out one’s equity. Keep in mind though, this special type of mortgage does not have a fixed term; because payment becomes due the moment the senior borrower passes away or enters a nursing facility.
More importantly, interest on the borrowed amount will be compounded monthly. The principal amount earns the lender, interest on a daily basis, which will then be added to the principal amount each month. This means on the following month and thereafter, the principal amount on which the interest will be computed, will be greater.
The longer the lifespan of a senior borrower, the greater the potential earnings of the Lifetime Mortgage lender. If so, there is a likely possibility for the loaned amount to balloon. The final amount due may even reach a value that equals or even exceeds the appreciated value of the property held under a Lifetime Mortgage.
That being the case, taking out the loanable amount by way of a Lump Sum approach, will grow the compounded interest much faster. Not unless, a lender gives the senior borrower the option to make monthly interest payments, as a way of curtailing the ballooning effect of compounded interests.
If the option is not available, a Draw Down facility is a better approach, since an elderly borrower can gradually take out the equity borrowing. That way, interests will compound and grow at a slower pace.
Applying for a personal loan can help you in various situations. But before we get into that, let us try to define what is personal loan? Some loans are intended to be used for specific purpose. Do you need a house? You can take a mortgage loan. In need of a house to make transportation easier? Then apply for the California car title loans. Lack funds for education? You can apply for a student loan.
Personal loan on the other hand is different. It can be used for virtually anything that you could think of. Some lenders would want to find out what you’re going to do with the money lent to you. But so long as you have borrowed it for legal reason and use it responsibly, you can do pretty much anything you want with it. But does this specifically mean? Let me give you an example:
Mortgage loan – when you take out such a loan, your home automatically becomes the collateral
Auto loan – same goes with this loan, the car you buy serves as the collateral for the loan you applied for.
With a personal loan, there’s no collateral involved. Meaning to say, the loan is unsecured. But due to the reason that it is unsecured, expect for the interests to be higher than normal. Though, there are personal loans as well that are secured if you wish to lower the costs.
Here are situations in which taking a persona loan could be beneficial on your end.
Consolidating Credit Cards
Say you have several credit cards that have been maxed out. You may apply for a personal loan to be able to consolidate all charges in one payment every month.
What makes this more appealing is that, the interest of your loan can be lower compared to the APR or Annual Percentage Rates on credit cards.
Refinancing Student Loans
Through this, it can give you financial relief. The interest of student loan might be 6.8 percent or even higher which depends on the loan that you have. However, you may obtain personal loan with lower interests, enabling you to pay the loan faster.
However as you use personal loan in paying either a portion or all student loan, you’d lose the ability of deducting interest payments together with the benefits that come with the loan like deferment and forbearance. If the balance for example is quite large, then personal loan will not likely be able to cover it. So it’s best that you think of all the issues carefully before deciding to refinance student loans.
In today’s generation, a lot of people have been opting for loans and the notion that loaning is as easy as imagined. With the want and need to keep up with the pace of the society, and an individual’s needs, loaning is the easy key to buy that car, get that house, invest in this property, and have that those parties. But, as reality strikes, there are some points here and there to take note of before doing this move, because what comes easy now with this solution might lead to a future problem as well, and we all don’t want that
Here and There To Loaning
First off, loans are expected to come with interest rates, with which these loaning bodies earn, but, and as much as this is expected we might be facing a bigger problem when certain loans come with higher interest rates. In this manner, making a way for money to solve a one need, can cause bigger issues in the near future which can be another problem to dig yourself deeper in another type of scenario that involves money. With your way in might come your way out.
Another important note to be very clear and precise about is being very skeptical with the bodies or companies that you get yourself into. As people know the high percentage of others to get loans, scams and illegalities may come in the picture which causes more mess and problem. This is never impossible especially when money is involved, always make thorough background checks on people and companies before signing loans, to make sure that you are not putting yourself in a hole.
But, by the end of the day, loans are there to cater goodwill to people who are in need of its benefits more than bad credit business loans. But, it is always better to be aware and alert in situations, to be thorough and mindful of little things, to make sure that loaning will affect you with its good assets rather than the opposite.
There are times when people are financially unstable that the only way to get by is to borrow money either from financial institutions or from people they know who would be willing to lend them the finances they need. For instance, when an individual gets into a vehicular accident and are financially constraint, they have to look for ways to pay for any damages, medical bills, or car settlements. Fortunately, there are companies like American Pride Legal Funding who offer loans involving car accidents. Moreover, there are plenty of other lending companies who offer loans for different purposes.
Nonetheless, although there is an abundance of lending companies, people cannot rely on taking out loans all the time, since loans are supposed to ease short-term needs. Therefore, people have to look for a stable and sufficient source of income to be able to fund long-term as well as lifetime needs. However, political instability could hinder financial development, both of the people and the nation.
The Effects of Political Instability
It is a fact that to drive growth of the economy, it is crucial to have financial development so as to generate wealth as well as to develop a country. But, political instability has a weighty influence on the overall development of the economy. Political instability is usually brought about by serious inequality in the economy wherein it can disturb and get in the way of financial development. Hence, it is important for leaders of the nation to be knowledgeable about political stability, to have a clear grasp of the major factors of financial development in the modern age as well as the underlying conditions and situations that cause this stability.
To cite an example, political instability in Zimbabwe has steered to financial underdevelopment and backwardness. The instability is principally because of a frail democracy that is prompted by inequality in the economy. Therefore, we could discover an in-depth reason for the reluctance, refusal and inability to look after the investors. Such inability and reluctance is predominantly observed because of the presence of inequality that is severe. Knowing that political stability lessens financial development might have a favorable impact on the economic development of a nation.
It is observed that financial institutions like banks are likely to collapse in an environment where political instability is present wherein it may distress consumer firms gravely. In the event that a bank fails, the associated firms can lose their funding source temporarily which would lead them to seek out other secure moneylenders. Political instability and uncertainty may possibly bring about a downfall of the sector of banking, and sooner or later will negatively impact users who depend on bank credit to finance ventures and projects. Because problems and concerns in the sector of banking might influence the growth of the economy of a nation, it is imperative to come to know about relevant processes and actions that could be carried out to avert the crisis.
Grassroots fundraising in its simplest context is money solicited from ordinary people without any stipulation of amount contributed, in order to provide funds that will mobilize a movement and achieve a specific mission that will benefit a particular group of people. Grassroots donation has no limit in the sense that any one person can contribute on a recurring basis, to ensure that the movement will be able to have a sustained means of carrying on with its activities.
While grassroots raised funds were originally focused on projects intended to serve the community in which the funds were raised, it came to a point when political candidates had to resort to grassroots funding in launching their political bid. This was deemed acceptable as a grassroots funding purpose since supporting a political campaign, if supporting a political candidate will help push the movement toward success.
Inasmuch as raising of grassroots funds depends on the efforts of volunteers who take actions in soliciting and collecting donations, the political candidate who will utilize the money donated will not be beholden to the donors. If he or she succeeds in getting elected, the politician will be expected to honor his pledge to the multitude of grassroots donors by focusing on policies and projects that will benefit the general public; particularly the sector or public concerns requiring positive government actions.
President Barack Obama Sets an Example of a Successful Grassroots Funded Politician
Although there were other presidential aspirants like Howard Dean, Ron Paul and Bernie Sanders who utilized grassroots fundings for their political campaign, only Barack Obama succeeded in getting elected as President of the United States (POTUS). As POTUS, President Obama made good on his promise to make healthcare available for the less fortunate Americans, and to introduce policies that protect the welfare of immigrant workers.
However despite getting re-elected, political divide did not allow some of President Obama’s healthcare and immigration policies to gain full legislative support. Moreover, the current Trump administration, whose president is politically backed mostly by business institutions and wealthy members of society, continues to carry out actions that would repeal or modify some of Obama’s grassroots-oriented policies; including those addressing climate-change and gun-ownership laws.
2020 Presidential Candidates Supported by Grassroots Political Campaign Funds
Bernie Sanders launched another bid to get the Democratic Party’s nomination as 2020 presidential candidate. However, Senator Sanders is mostly making a repeat of his 2016 advocacies. That being the case, he is currently unable to expand his grassroots base beyond his loyal supporters. Senator Sanders was able to raise around $18 million as grassroots-supported campaign funds.
Democratic Senator Elizabeth Warren of Massachusetts has come to the fore as another grassroots presidentiable seeking for Democratic nomination as presidential candidate to run against Donald Trump. Senator Warren was able to raise $19.1 million in grassroots funds to launch her campaign.
She stands firm on her position of not accepting big-dollar contributions coming from wealthy donors. After all, Senator Warren’s political agenda is to fight for the working class people. She vows to advance policies that will require funding paid in part by hefty taxes she intends to impose on America’s super rich people.
Student loans are famed for assisting students to get through with the high cost of their tuition fee as well as day to day living expenses while at school. However, this loan option is very limited. It cannot be used in covering bigger expenses such as buying a car and so forth. Depending on the amount you’re qualified for, you may not have sufficient money left to pay for rent and also, let’s not forget your foods.
Taking Personal Loans as Supplemental Loan to Student Loans
In this regard, taking personal loans from Zebra loans can help you in such situation. However, it will not be a very wise action if you are unemployed as the repayments immediately starts. Well, you can still proceed though considering that you have your parents to back you up.
If you are interested in this option, one thing that you need to take into mind is that, there’s no “best” loan. It will likely depend on the amount of money you need and also, your current financial situation.
Your options will vary as well depending on what you have to buy, if you have credit score and if you’re employed.
Are you pushing to apply for a personal loan and yet, you are a student and have no cosigner? Don’t fret as there are alternatives that you can try. As a matter of fact, there are lenders that are offering specialize type of loan to college students. So rather than relying on your credit score, what lenders do are to check other elements such as your standardized test scores as well as academic performance. On the other hand, these loans could possibly come with higher interest rates compared to personal loans that have cosigner. Also, these loan programs are offered only by few states.
Personal Loans with and without Cosigners
But what if you have a cosigner for the personal loan? With this one, it can be easier to qualify for a personal loan. This is regardless if you don’t have a credit score that lenders can review on or a full-time job. With such option, the lender will be looking at the creditworthiness of your cosigner.
Besides, when you have a cosigner, it can assist you in meeting other requirements – for instance, if the lender is working with particular residents of a state. However, for this to work out, it is essential that both of you are US citizens or if not, at least a residing permanently in the same state. Otherwise, you would not qualify.
The field or branch of law that legal representatives are practicing is so broad and wide. In fact, even just in the practice of estates and trusts include tons of different things including estate and trust administration, estate planning, elder law, probate and many other things.
With the presence of an estate and trust lawyer on your side, they can be of help in many different things. For instance:
Create a plan for what’ll happen to your assets at the time of your demise
Avoiding probate like transfer-on-death tools, living trusts, designation of beneficiaries etc.
Reducing estate taxes
Setting up trusts for loved ones
Assistance with probating estates
As a matter of fact, there are more services that estate and trusts lawyers can offer like finding tradelines for sale helpful resource which can help in growing your wealth and finances.
Where they Excel Most?
Trusts and estates lawyer are more expert in handling specific types of issues. Therefore, if ever you needed an estate and trust lawyer, try finding someone who is specializing in your specific concern.
Let me give you a simple example…
One of your loved ones had passed and you need a lawyer in order to mediate in settling assets and possessions. In this regard, it will be a big help if you are going to search for someone who have accumulated years of experience in relation to probating estates in county where your loved one lived.
Make a List
No matter what the situation is, you’ll have to perform research in order to find trust as well as estate lawyers that’s best for you.
Assuming that you don’t have prospects yet, then a good place to start is to search online. As you do so, you can narrow down your research as per the practice area and location of your lawyer from state, zip code or city.
By the time that you have created a list, take advantage of the tips below to perform initial interview. Then after, pick your top 3 candidates.
Check the lawyer’s website – as you are browsing the website, see if they are expert in the field of estates and trusts, do they have valuable information on their site that’s of great value to you? These are some information that you have to watch out.
Contact your local bar association – this is actually an extremely effective way of assessing the expertise and knowledge of your prospective lawyer. Be sure not to disregard it.
Talk to your prospects – there’s only one way to gauge whether you’re comfortable with the lawyer or not and that’s by scheduling a meeting with them and ask questions that aren’t clear to you.
The greater the number of people who are using Bitcoin, the greater the number of financial services would be created to accommodate cryptocurrency. As a matter of fact, there are constant stream of new applications being developed just for this purpose. One major advantage of Bitcoin than other traditional currencies is the fact that it is not affected by inflation. There’s no central authority that could all of a sudden manipulate the value and supply of this currency.
The Path to Richest with Bitcoin is Here!
On the other hand, if you are interested to make money using Bitcoin, you’re in luck because there are countless of ways on how you can do so rather than keeping them in your digital wallet. As you read this article, I will walk you through on the different ways of making money with Bitcoin.
Buy & Hold
By far, this has been the most effective method known to man. You can make tons of money by simply investing in Bitcoin. This however will require continuous positive trend. Even though the cost increased thousand percents, there’s no indication that the growth slows down.
This is yet another way that can be applied to earn money using Bitcoin. On the other hand, since the competition is tougher and fiercer, it is more challenging to multiple your money with this procedure. This is something that would demand resources. In the event that you are really determined to try this path, then consider using bitcoin trading robots from GladAge.
Invest in Crypto
Rather than just being a user, you may actually be an investor. The more the people who start to use Bitcoin, the more its value will rise. People are buying Bitcoin for sheer number of reasons.
Many are using Bitcoin due to the reason that it is easier to do online transactions with it. Others however take advantage of it for the cheaper money transfers while some are investing in Bitcoin to not be affected by inflation.
Bitcoin as well as blockchain technology has various applications and will keep improving in the years to come. The potential for growth is high and therefore, a lot of people are deciding to invest in Bitcoin using the aforementioned methods.
Nearly two years after the Equifax database hacking, the US Government Accountability Office (US GAO) released a report last Friday naming government agencies still using the Knowledge-Base Authentication method in running their online operations. The revelation by the government watchdog serves as a warning to people transacting online with agencies like the Social Security Administration, the US Postal Service, the Centers for Medicare and Medicaid Services, and the Veterans Affairs that their accounts and their benefits, are vulnerable to cyber attacks.
The US GAO is concerned that the Equifax database breach in 2017 resulted to the exposure of personal identifying information belonging to more than 148 million Equifax credit report users.
Knowledge-Base verification is the second stage security measure used by a website when authenticating users intending to replace a forgotten password. Usually the verification requires giving answers to security questions about personal information known only to the account holder. If supplied correctly, a change in password will be allowed to grant access to whoever initiated the password change. .
Breached personal information providing details about credit-cards, Social Security Number, Driver’s License, date of birth, email addresses and phone numbers, can be used by cyber criminals in surreptitiously accessing benefits and other privileges provided by the aforementioned government agencies. Considering that account passwords can easily be replaced by using Knowledge Base authentication approach, rendered weak as a result of the Equifax database hacking that made massive personal information available to cyber criminals. . .
That is why immediately after the Equifax credit report data-hacking transpired in 2017, the National Institute of Standards and Technology (NIST) recommended the discontinuance of Knowledge Base Authentication as second-level method of verifying the identity of online account holders. .
However, the US GAO noted that the 2017 NIST notification did not include guidelines for directing government agencies on how to implement alternative methods of remote identity proofing, such as in-person verification, or through the use of user mobile devices when checking in.
Actions Taken by Government Agencies Cited in the US GAO Report
The U.S. Department of Commerce agreed to the GAO’s recommendation, and has committed in behalf of the NIST, the Social Security Administration, the US Postal Service, and Veterans Affairs that steps will be taken to improve the security in their remote identity verification processes.
The Center for Medicare and Medicaid Services (CMS), through the Department of Health, disagreed with the GAO recommendation. According to the CMS, the alternative methods recommended are not feasible practices as far as the citizens availing CMS services are concerned.
In response, GAO underpinned the reasons for their recommendation, suggesting that the CMS may consider other alternative methods other than those recommended by GAO in the report.
Almost everyone’s dream is a home ownership especially in America because it is one of the countries where getting a house is kind of hard because of its price. Fortunately, the government has addressed this kind of issue and promoted it for years through implementation of a variety of federal programs, since investing on houses will boost the economy. According to the Census Bureau, almost 60 percent of Americans were able to get a house through loans and lainavertailu. You can visit the site Zmarta if you want a loan to make your dream come true or combine existing loans. Zmarta compares loan offers for you so you can choose the best loan offer from their lenders depending on your capability. Check out their Loan Calculator and find the right option for you in just a few minutes.
If you are a beginner when it comes to loans. Here are some of the basic information to help you get through the process of getting a house loan. First is the income requirement where the lenders will assess how much you can borrow money from any bank or institution. The general rule is that your monthly income must be no less than 3 to 3.5 times as big as your monthly amortization.
Bank Accreditation is also another requirement. Some people find a property first and then try applying for loan at banks which is more hassle compared to finding the accredit developer of your bank. For accredited developers, loan processing will be much more easier and hassle free. In addition to that, they may also have special interest rates or higher loanable amounts.
These are just some of the important requirements you need to understand prior to you loan application. So how are you able to get approval for your application? First is that you need to clean up your credit history. This is one of the problems of borrowers after submitting a home loan application. Whether the debt is from another institution or bank then it is possible that your application will be disapprove because it means that you are not capable of paying off your debt.
Creating stability is also an important step to consider prior to application. Borrowers do not want to invest on risky clients so do the very best you can by staying financially stable. How? You will just avoid new debt and over spending- financing a new car, signing a new loan, or going on an expensive trip.
If you think you are ready for this journey, apply for housing loan at your preferred company/bank/ institution.
Hustle Life provides useful guides and marketing strategies for affiliate marketers to draw in and increase customers, since more customers would mean more sales and more sales would mean an increase in finances. It is undeniable that funding or finance plays an important aspect in an organization or business for it to work operationally. This is also true in the political world.
Political finance embraces all funds or finances that are raised and expended for political activities and purposes. Such purposes include all political voting contests by citizens, particularly the campaigns for elections of different public offices that are managed by candidates and parties.
The yearly budgets of these kinds of organizations will also need to be regarded as political competition costs. The related term “party finance” is often used in Europe. It only refers to funds or finances that are amassed and expended with the aim of influencing the result of some kind of party competition. It is yet an unsettled concern on whether to add in other political intents, such as campaigns for public relation by lobbyists. Even a scope of limited political purposes, party activity and campaign, specifies that the term “campaign funds” is very narrow to include all funds and finances that are utilized in the political process.
Grassroots Fundraising is utilized by political candidates, it is a common way of raising funds that has become more recognized with the advent of the Internet. This method has been used by presidential candidates in the United States, such as Howard Dean and Barack Obama. Political candidates without substantial media coverage of “top dog” status, or those who are maybe against the influential lobby factions which impact the nominating process of the political party make use of the Grassroots fundraising method.
It frequently encompasses mustering support of grassroots to realize a particular fundraising target or arranges for a particular time or day of the week for grassroots advocates or supporters to contribute to the campaign. This could likewise be a mode for organizations to draw in and get people to contribute or donate as well as to cleverly and purposefully involve more people. Grassroots fundraising embraces the efforts and determinations to reach out and connect to the community served as well to acquire networks and resources for the campaign.
Pluses of Grassroots Fundraising
The benefits of Grassroots fundraising revel in the close, interrelated linkages of support by community.
By obtaining funding from numerous resources, organizations or candidates could avoid the risks of reliance on a small number of sources or contributions from membership, and the possible instability in the funding provisions.
Organizations could concentrate on the serving the community instead of their funders. Through this method of fundraising, a structured public delivers an incalculable amount of support and vigor .Peer-to-peer fundraising is a structure that presents prospective donors the mission and plan of action of the organization or campaign, with contributions or donations given under the expectancy that it will go in the direction of the specific efforts and initiatives of the organization.
With an extensive support of benefactors, organizations are capable of remaining dedicated to their missions, principles, as well as recipients.
Just like Tucson auto title loans, a car title loan also termed as “auto title loan” or “title loan” is a type of short-term loan wherein the title of the borrower’s car is utilized as collateral. It is a must that the borrower be the lien holder or must personally own the car. These types of loans are typically for 30 days or less. In the event that the borrower fails to repay the loan on the agreed terms, the lender can take possession or ownership of the automobile and have it sold to get back the amount loaned by the borrower.
Regulations on Car Title Loan
If you have pondered on getting a car title loan, you may already be aware that these short-term loans could be very helpful for an individual who may be of immediate need of cash but unfortunately don’t hold the best or a favorable credit score. Usually, what one needs in obtaining an auto loan is a driver’s license that’s valid and the title to the car, truck, RV, boat, or other motorized vehicle that you own. Nonetheless although you may have done your research on the rate of interest, loan terms, as well as alternative that are similar to title loans is probably common in your locale, you may have forgotten to take into account the laws and regulations of the state regarding car title loans.
What is the Basic Legality?
The particular laws that preside over title loans could differ depending on the town, region, state, or country that you reside in. Some states limit the rate of interest that a lender of an auto title can impose or levy, while some states may not have such laws imposed.
Under Federal Government Law
Car Title Loans, according to the federal government, are permitted and legal except if clearly banned or forbidden by the state. That sentence certainly encapsulated the totality of the interest of the federal-level in Car Title Loans. These loans were solely regulated by the law of the state, with the underlying idea that they were permitted in accordance with the federal law if allowed by the state. But, Title Loans have been the center of topic at the federal level. According to the Bureau of Consumer Financial Protection, they aren’t planning to prohibit or ban car title loans; yet, there are new regulations and laws being deliberated on to make certain that lenders of car title loans are only loaning or lending to borrowers who could meet the expense of to repaying their loans. There also has been a dialogue of forming a governing agency that lenders of title loans will have to periodically report to make sure that clients are protected.
The craze on cryptocurrency is spreading like wild fire. And yes, governments around the world had been intrigued too as they have started to create their own versions of digital currency. Estonia created Estcoin, Japan with J-coin, Sweden with the E-Krona project, and Petro by the Venezuelan government. These are just a few of the many governments exploring cryptocurrencies.
These government backed coins are called central bank issued cryptocurrency while others called it digital fiat. Regardless of what they are called they are not true cryptocurrencies. Why? True crytocurrencies are decentralized and it is one of the features why many people love the crypto. It is not governed or controlled by any entity as opposed to these government backed coins.
Bitcoins for Freedom
Venezuela is suffering from years of high inflation. There are over 3 million Venezuelans who have fled the country since 2014 seeking for food in nearby borders to feed their empty stomachs. Authoritarianism has gone from bad to worse and Venezuelans have the least power to change their rulers through campaigns for change or via free and fair elections simply because they fear for retaliation. It may seem that there are no other options for the people of Venezuela but technology gave hope to those who believe.
Many Venezuelans are experimenting with Bitcoin to avert inflation and tight financial management. There had been a lot of factors that concealed the liberating potential of Nakamoto’s invention. Lear more about crypto trading here – https://pheeva.com/bitcoin/trading/best-crypto-trading-bots/.
Among others is speculation, fraud, and greed. But for the Venezuelans and others who are living in high inflation and authoritarian rulers, they have seen Bitcoin as a valuable tool to fight ongoing inflation and work around the present government based exchange.
Venezuela is not the only nation where people are able to use Bitcoin to escape present economic climate. Zimbabwe, China, and Russia are experiencing the rage of inflation and are looking into Bitcoins to work around the tightening financial economic standards.
The Dark Side of Cryptocurrencies
The governments are interested in cryptocurrencies too. In this regard, we have to consider the dark side of this rising technology. Intellectuals have sent out warnings already that big data and AI (artificial intelligence) can possibly bolster authoritarians and tyrants everywhere. Venezuela, Saudi Arabia, and Iran have plans and are trying hard to change and centralize the concept of Bitcoin from peer-to-peer decentralized digital money to state-controlled cryptos such as the Petro. This will allow governments to successfully expurgate deals, control user accounts, and elude sanctions.
Keeping coins Decentralized
Cryptocurrencies such as Bitcoin is an insurance policy against an Orwellian future – written by Nassim Nichols
Decentralizing cryptocurrencies can result to opposing force. Other than Bitcoin, there are protected communications software and web browsers, privacy-preserving cryptocurrencies, mesh network units, and control-resistant storage programs. We could make certain that our financial systems and social networks won’t become tools for greed and control by continuously investing in these tools and making them better for the freedom and benefit of the majority.
The Federal Budget Process is a 9-step plan outlined by the 1974 Budget Control Act, establishing the role and authority of Congress in appropriating government funds, which the latter will present as a centralized and consolidated budget plan for the federal government at the start of every fiscal year.
Take note that a fiscal year is different from the calendar year that conventionally starts on January 01 and ends on December 31. A fiscal year also covers a 12-month period, but may start and end on any date agreed and settled upon by the federal Congess, state Congress or by a business entity, as the cyclic period. Currently, the the Federal Budget Process is being carried out to create a Budget Resolution for a 12-month period starting October 01 and ending September 30.
The Federal Budget Process
The 9-step process mainly involves submission of budget requests to the Office of Management and Budget (OMB), coming from all federal agencies. The OMB in turn, carries on with the process by reviewing, assembling and preparing all budget requests before they are forwarded to the Office of the President.
Once forwarded, the Office of the President will in turn prepare a budget proposal indicating in dollar values, the President’s funding levels and priorities for each federal agency. The proposal may include changes to mandatory programs that Congress had already enacted; and/ or make certain changes to the tax code.
After which, the President’s final budget proposal will be submitted to Congress, where the final steps of the Federal Budget Process, take place.
The Role of Congress in the Federal Budget Process
Both the House of Representatives and the Senate maintain their own budget committees, whose output will be significant during deliberations and negotiations for the final appropriations bill. Part of their output are the results of hearings with the head of federal agencies, to establish the propriety and necessity of the funds requested.
In addition, there is also a Congressional Budget Office to which certain congressional members are tasked to provide non-partisan analysis and review of the budget proposed by the President of the United States for each fiscal year.
After which, a consensus must be reached by Congress on where the tax burdens must fall, on who are the recipients of the spending benefit and on funding priorities.
The final budget projections and allocations are stated in hard numbers. Once all matters have been considered and agreed upon by the members of the House of Representatives, a Budget Resolution will be prepared and passed to the Senate for review and approval. Once the Senate approves the Budget Resolution passed by the House of Representatives, the approved budget will then be forwarded to the President of the United Stated for approval.
Generally, political finance is the term for all funds in the process of political-electoral campaigns. Therefore, political funding can be defined as the funding of present and political party activities as well as electoral campaigns. Specifically pertaining to campaigns of running candidates and political parties. Political finance all over the world presently faces various issues. In an effort to solve these difficulties, all countries around the world will have to have some kind of policies addressing political funding.
There are many sources of political funding, from raising donations to self-funded campaigns. Some individual candidates also tend to get campaign loans to fund their campaign activities. In New Zealand, some candidates get a quick loan in New Zealand to fund the same purpose although this is not the smartest step to take.
Political Finance, Why Is It Crucial?
Political finance plays an active role in democracies. It can help bolster political parties as a whole and as well as individual candidates. It also can give chances to get more equal levels of competition. The truth is, the overall availability of funds is crucial to the total stability of elections as well as in democratic governance. This allows people to put their trust in the political industry and to politicians in general.
One of the primary elements blocking the political electoral approach to attain democratic ideologies in several countries around the world is the impact of funds. While funding is essential for democratic politics, it can likewise become a tool for a few to impact the political approach by vote buying or affecting policy preferences. For instance, many groups from any industry make use of money to govern state policies for their favor. There were many instances reported that many political parties are making use of state resources to keep their power in the government.
Transparency in Political Funding
It is essential to have transparency when it comes to funding of political parties and individual candidates. This is one way to prevent corruption and gain the trust of the people in politics.
Transparency can help a fair and competitive competition by revealing and penalizing undue control over political figures, prevent infiltration of questionable funds into national politics, and promotes political parties and individual candidates to stick to the policies for a fair and better electoral campaign.
The need for transparency in political funding had been accepted around the globe via the UNCAC or the United Nations Convention against Corruption. This suggests that countries around the world ought to take appropriate legal and administrative steps to improve transparency in the financing of candidatures for chosen public offices.
All political parties throughout various nations require funding to actively take part in the political arena. And while financing is important in every political campaign, it is also the source of major threat in many governing bodies today. With the threat of that funding brings, the people ought to be smarter in casting out their votes.
A stable economy is one in which money circulates effectively and continuously. When money held by a person or entity transfers to another on a daily basis, money becomes available for use to others. If large sums of money in an economy go to the hands of individuals who place them in financial markets, or stash them in personal cash vaults, even hide them in walls or floors, less money circulates; likely stunting the growth of an economy.
What is Money Circulation and What are Its Indications
Money circulation is the actual transfer of physical cash on hand, which transpires when consumers buy goods or pay for services. However, for money circulation to be effective, the exchange must generally transpire within the same economic territory.
The stable flow of money will carry on from consumers to retailers, to wholesalers or distributors, to manufacturers, to raw material providers, up to the very people who toil on natural resources to produce or extract the most basic requirement of a product. If such is the case, it denotes that almost all participants in an economic sector will have money to circulate at their end.
In the process of transfers, business entities aim to collect cash in amounts that enable them to pay for salaries, utilities, maintenance, tools, and other things necessary to sustain business growth. Growing businesses create new jobs, use new spaces and pay additional taxes.
Salaries on the other hand represent the source of money from which consumers derive cash they will put into circulation. Ideally, money received as compensation should exceed a person’s cost of living. If such is the case, a consumer can expand coverage of money circulation by purchasing other products, aside from those that they buy or pay for to meet the cost of living. Even more ideal is that they can save money in banks, since a bank in turn, will be able to generate loanable funds.
Money placed in banks yields interests, whilst still keeping the value intact for the depositor’s future use. Interest paid by banks are sourced from interests collected from borrowers; making it important for banks to make sure that money, is loaned out to entities vetted as capable of paying back the funds borrowed plus interests.
Such scenarios in an economic territory, if occuring with very little or no setbacks at all, can guarantee economic stability and growth. Unfortunately, there are certain factors such as natural calamities, disasters, civil unrests, poor political policies, monopolies, fraud, innovations, and global conflicts that affect activities and operations of those who participate in money circulation.
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