Posts tagged: money management
AXIOLOGIX INC (OTCMKTS:AXLX) signed a definitive agreement to acquire a few assets of International Money Management Inc so that it could build up money transfer portfolio. AXIOLOGIX is one of the leading names in International Remittance and mobile payment space.
The Irvine CA-based International Money Management Inc. can prove to be a major asset for any company trying to make a mark in money transfer field. The transaction was subjected to a few condition, including AXIOLOGIX getting a total funding of $500,000.
Insights of Acquisition
It’s one of the best decisions made by AXIOLOGIX to build up its portfolio in money transfer vertical. All the parties interested in offering required funds to AXIOLOGIX gave their approval right away, which helped the company finish the transaction within a matter of three-four months from the day of the announcement.
IMM is mainly known for marketing a US issued prepaid debit card; that’s affiliated with a foreign debit card, which makes it easy to transfer money to a foreign country without any hassle. There are many people who belong to a foreign country, but work in US With this card, they cannot only transfer the money from one country to another country in a hassle-free way, but also save a significant amount of time and penalty charges.
People having IMM cards can pay their home country utility bills right from US without any interruption. They can also use this card in other overseas locations and make financial transactions.
Both AXIOLOGIX and Money Management Inc. have been conducting different due diligence procedures for a very long period to ensure that everything falls in line. The definitive agreement has been signed after getting good results in due diligence procedure. The agreement didn’t affect the Money Management Inc. management composition as no change was introduced after the execution.
Both of them will keep all the investors updated about any further update in this direction.
American Money Management Llc Equities Analysis
American Money Management Llc just filed its Q3 2015 13F. Dated 13/11/2015, the SEC filing reveals the institutional investor has a portfolio value of $105.84 million, representing a decrease of $12.47 million from the previous quarter when it was $118.31 million. Note: This filling reprents about 52.50% of American Money Management Llcs assets, which which are listed in the US.
by Nat Frothingham
Help appears to be on the way for schoolchildren, college students and young adults struggling to manage their money.
During the last session of the Vermont Legislature a bill was passed in both House and Senate and signed into law by Gov. Shumlin to establish a Vermont Financial Literacy Commission.
“Why yet another commission?” one might ask.
Well, it appears that high school and college students and young adults are struggling to manage their money at a time when intelligent money management could well be the difference between life success or failure.
As part of an introduction to the bill that establishes the new commission, we learn the following:
- That according to a Schwab survey “…parents are nearly as uncomfortable talking to their children about money as they are discussing sex”
- That only 10 percent of Vermont high schools have a financial literacy graduation requirement
- That many Vermont college students leave college for “financial reasons”
- That 63 percent of Vermont four-year college students that graduated in 2012 had a student loan debt that averaged $28,299
- That Vermonters have an average credit card debt of $9,667
In short, when high school and college students graduate they are under- or ill-equipped to take control of their financial lives. They don’t know how credit works. They don’t know how to budget or how to save.
Little wonder that many of this generation’s young adults have higher unemployment rates than their parents’ generation and owe more money. And they are seldom either saving for a “rainy day” or saving for their retirement years.
It’s easy to establish a commission. It’s less easy to equip a generation with the skills of careful and intelligent money management. And this at a time when college tuitions have gone through the roof, when taxes and costs are high and when some politicians are crying out against “income inequality.”
Successful couples have learned to blend their money styles by being in harmony with the way they build a budget and spend money. So how do they do it?
Everyone has a money style. Many people love to save, others enjoy spending and unfortunately some just don’t want to be bothered with thinking about money, and they are the avoiders. Often spouses are opposite in their habits, which can work well; but unless they can discuss it and make a successful plan, it can lead to arguments and dissatisfaction in the relationship.
It may have been learned from parents or developed later in life, but everyone values money differently and has a preferred style for handling it. No style is right or wrong, but how it is handled is critically important. Some regard money as a security and have a desire to save and protect it. Some enjoy spending money because it makes them feel good, and still some don’t want to even open an envelope that might have a bill inside. Unless you understand how your partner values money, it can cause frustration in a relationship.
When a couple fails to communicate about how each person values money and there is not a financial plan, arguments often arise. Many unhappy marriages and divorces are a direct result of financial issues.
Couples with strong relationships have developed money management skills that work for them. For example, they set aside time each month to go over finances, talk about how they value money and set goals. Generally one of the individuals will be the money manager; however, both should discuss and look at the plans each month. Both partners must be happy with the spending arrangement. It is important to set a budget. Then set aside 10 percent for savings, since this makes the saver happy. Next, set aside 10 percent for a charity. This makes the spender feel good and also helps him or her see the real value in money. This will also direct the avoider to make a plan and know where the money is going.
Understanding the value each person places on money helps build respect in a relationship. Both partners should have input about where the money goes.
A strong relationship will put the value of money into what makes family members happy and content. Money will be used for meeting goals and planning ahead for the future. When you can build a financial plan, you will have the freedom to work on areas of need for your family.
Consider these tips for building a financial plan:
1. Discuss how you value money and what is important (saving, spending or not discussing it). Visit Olivia Mellan’s website if unfamiliar with money styles. Take the quiz at https://www.moneyharmony.com/moneyharmony-quiz.
2. Discuss your family goals for this year, the next five years and then for future needs and retirement.
3. Make a financial plan (a budget) where you can set aside money to save and money for charity. If things are tight, start where you can. Most financial planners will encourage you to set aside 10 percent for each of these; however, you can begin with less. Even a little can make a difference because it sets a precedence.
4. Set up a plan for your family needs and wants and review it monthly.
5. Be sure to set aside weekly activity nights for the two of you. Spending quality time together can help you discuss your financial plans in a more direct and positive way.
Relationships are fragile, and money is a major issue. It doesn’t matter how much or how little you have, but how you work as a team to plan and be content with your financial decisions.
Having a good sense of money management skills is an effective way to reduce misery, save marriages, improve health and reduce stress. Raising a Christian family means remembering to incorporate good morals and ethics into your structured home – engulfed in those elements should be the beliefs centered within the Christian faith. Christians live at a high standard of honesty because God is always by their side. There will be times money will cause disagreements and/or episodes of frustration however, it’s important to know that even during these times God is surrounding us. Therefore, when Christians evaluate their financial situation God should also be considered in the equation.
Montanans are the best at managing their money while Marylanders are the worst, according to a CreditCards.com analysis that compares credit report data and income.
To measure money management ability, CreditCards.com compared consumers average credit scores, from the credit bureau Experian, to their median household income, per the US Census.
They then ranked the states by differences between the two:
The top states had credit scores much higher than their income. In the middle, credit scores about match income rank. Poor performers had high income, but relatively low credit scores. Differences in state job markets and the age of their population influenced their scores, but didnt explain all the variations in money management ability.
In top-ranked Montana, the $44,938 median household income is well below the national average of $51,849, putting the state at No. 41 for income. But its credit score of 686.5 is 11th best in the nation.
What do the top money-managing states have in common? A mostly rural demographic profile that lacks major cities is one obvious trait. In Montana, there is some truth to the stereotype of self-sufficient farmers who prize thrift and distrust debt, one expert on the local economy said.
We do have a population that is pretty conservative about their personal finances, said John Rogers, chief business development officer at the state Office of Economic Development. I think its a cultural thing … also probably a more rural thing.
Montanans credit card statements support this view. The average balance of $4,143 is 6 percent below the US average, showing that residents dont use credit to pump up their modest spending power. Perhaps more important, their average credit utilization rate — how much of the cards credit limit is in use — is one of the lowest in the nation, at 27 percent.
Click here to read the full article at CreditCards.com.
When it comes to financial management, a phrase borrowed from Spider-Man might carry the most apt advice: With great power, comes great responsibility. When used correctly, money can be one of the most powerful tools we have. It allows us to purchase a home, pay for higher education, and retire in relative comfort. But too often, the mismanagement of the money we have can also lead to our downfall, whether its making a wrong investment decision, not saving enough for a rainy day, or putting all our charges on plastic until were drowning in debt.
A recent survey conducted by CreditCards.com suggests that these money management issues are a problem for many Americans, even the ones bringing in higher paychecks. In fact, some of the states that boast the highest incomes are also the ones that struggle the most with bad credit scores, often an indicator that households arent being responsible with the money they earn.
Matt Schulz, senior industry analyst for CreditCards.com, said the team began the study with the hypothesis that the more money people are able to earn, the better their credit scores will be. What we found is that this survey turns that idea on its ear a little bit, Schulz said in an interview with The Cheat Sheet. Having more money doesnt necessarily make you more responsible.”
How the states ranked
To come up with the rankings, CreditCards.com analyzed the median incomes, credit scores, and credit card balances for each state. The states variances from the national median income ($51,849) were compared to the states variances from the national average credit score (669). In addition, the money management score subtracts a states actual average credit score from the score predicted by its income level.
When it comes to the states that land at the bottom of the money management rankings, many of them have median incomes that are higher than other states in the nation, but credit scores that are in the bottom half of the states. Bad credit scores can come from a number of factors, so its impossible to blame one thing for the plight of several states. There are as many reasons for bad credit as there are people, Schulz said. But among them, racking up credit card debt, dealing with large mortgages in high-cost areas, and living in an area with a high unemployment rate are all factors that can come into play.
Overall, the states that performed well in the rankings, such as Montana, South and North Dakota, Maine, and Vermont, might not be the nations breadwinners, but tend to have lower credit card balances. Montana, the top state for money management, also has a low unemployment rate, which could be a factor in the rankings.
Having a bad credit score can cost you a fortune, Schulz said, noting that your loan terms will likely have higher interest rates, you wont have high credit limits, and you wont get bonuses for signing up for a new credit card, among other drawbacks. If you can pay your bills on time, keep your balances low, and avoid applying for too much new credit in a short timeframe, youre more likely to improve your score or keep your good score intact, he advised.
Below is a list of the 10 states where people struggle the most with good money management habits, including their average income rank, credit score, and credit card balance. See how your home state ranked compared to the rest of the nation by taking a look at the full rankings list here.
10. New Hampshire
- Credit score: 695
- Credit score rank: 5
- Income rank: 1
- Average balance on credit cards: $4,643
- Credit score: 686
- Credit score rank: 12
- Income rank: 4
- Average balance on credit cards: $4,907
- Credit score: 646
- Credit score rank: 38
- Income rank: 46
- Average balance on credit cards: $4,699
7. New Jersey
- Credit score: 680
- Credit score rank: 19
- Income rank: 5
- Average balance on credit cards: $4,811
- Credit score: 642
- Credit score rank: 50
- Income rank: 38
- Average balance on credit cards: $4,398
- Credit score: 651
- Credit score rank: 46
- Income rank: 25
- Average balance on credit cards: $4,661
- Credit score: 675
- Credit score rank: 26
- Income rank: 3
- Average balance on credit cards: $4,917
- Credit score: 665
- Credit score rank: 33
- Income rank: 8
- Average balance on credit cards: $5,868
2. Washington, DC
- Credit score: 666
- Credit score rank: 32
- Income rank: 7
- Average balance on credit cards: $4,863
- Credit score: 669
- Credit score rank: 31
- Income rank: 2
- Average balance on credit cards: $4,861
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More from Money amp; Career Cheat Sheet:
- 3 Things That Can Destroy Your Credit Score
- The 3 Biggest Factors That Affect Your Credit Score
- 2 in 3 Americans Dont Have Enough Money for a $500 Emergency
DES MOINES, Iowa–(BUSINESS WIRE)–The
Principal Financial Group®, a global investment
management leader, earned the top spot in its category in Pensions
amp; Investments’ fourth annual survey of the Best
Places to Work in Money Management.
It’s truly an honor to again be named Best Place to Work in Money
Management. It speaks to our culture and our ongoing commitment to
creating a workplace where employees can excel, said Dan Houston,
President and CEO of The Principal®. This environment
enables us to attract and retain top talent, which ultimately translates
into success with clients and strong financial performance.
The rankings appeared in the Dec. 14 issue of Pensions amp; Investments,
a leading source of news, research and analysis for executives in the
institutional investment market.
“Our employees are our greatest asset, so it’s rewarding to know their
feedback has been essential to achieving this honor for the fourth year
in a row,” said Jim McCaughan, Chief Executive of Principal
Global Investors. “We are committed to a diverse team, development
opportunities for our employees, and candid two-way communication. These
are important elements in making Principal a great place to work.”
Pensions amp; Investments scored firms based on the results of
two different surveys. The first was a brief survey completed by each
firm that outlined benefits, pay and hiring practices. Employees
completed the second survey, which included questions related to
culture, compensation, career development and engagement.
For more news and insights from The Principal®, connect with
us on Twitter at http://twitter.com/ThePrincipal.
About Principal Global Investors
Principal Global Investors
is a diversified asset management organization and a member of the
Principal Financial Group®, with expertise in equities, fixed
income and real estate investments, as well as specialized overlay and
advisory services. Principal Global Investors manages $341 billion in
assets1 primarily for retirement plans and other
About the Principal Financial Group
The Principal Financial
Group® (The Principal®)3 is a global
investment management leader offering retirement services, insurance
solutions and asset management. The Principal offers businesses,
individuals and institutional clients a wide range of financial products
and services, including retirement, asset management and insurance
through its diverse family of financial services companies. Founded in
1879 and a member of the FORTUNE 500®, the Principal
Financial Group has $516.2 billion in assets under management4 and
serves some 20.6 million customers worldwide from offices in Asia,
Australia, Europe, Latin America and the United States. Principal
Financial Group, Inc. is traded on the New York Stock Exchange under the
ticker symbol PFG. For more information, visit www.principal.com.
1 As of Sept. 30, 2015.
2 Principal Global
Investors is the asset management arm of the Principal Financial Group ®
(The Principal ®) and includes the asset management operations of the
following subsidiaries of The Principal: Principal Global Investors,
LLC; Principal Real Estate Investors, LLC; Principal Enterprise Capital,
LLC; Liongate Capital Management LLP; Spectrum Asset Management, Inc.;
Post Advisory Group, LLC; Columbus Circle Investors; Edge Asset
Management, Inc.; Morley Financial Services Inc.; Finisterre Capital,
LLP; Origin Asset Management, LLP; Principal Global Investors (Europe)
Limited; Principal Global Investors (Singapore) Ltd.; Principal Global
Investors (Australia) Ltd.; Principal Global Investors (Japan) Ltd.;
Principal Global Investors (Hong Kong) Ltd.; CIMB-Principal Islamic
Asset Management Sdn. Bhd.; and the majority owned affiliates of
Principal International, Inc. Assets under management includes assets
managed by investment professionals of Principal Global Investors under
dual employee arrangements with other subsidiaries of The Principal and
assets managed in accordance with investment advice provided by
Principal Global Investors through the delivery of a model.
“The Principal Financial Group” and “The Principal” are registered
service marks of Principal Financial Services, Inc., a member of the
Principal Financial Group.
4 As of Sept. 30, 2015.