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Thursday, February 19, 2009 11:54 PM
♥彡Credit card debts : Causes & Prevention
#1 Too many expenses to cover but not enough cash or income to do so. For example, the main breadwinner of the household loses his job but monthly expenses are not cut down in line with the reduction in income. This obviously leads to a rise in debt because his family is forced to use their credit cards for groceries, utilities, education of their children and so on. It is worst if the family did not save up any money for rainy days ahead.
#2 Bad money management. Which is the most common reasons why so many families accumulate lots of debt. Not having a monthly spending plan and not keeping track of their monthly bills makes them unaware of where the money is going. They might be spending hundreds of dollars every month towards items that are useless but they do not realize it. While the money is going towards purchasing useless items, they might be charging their necessary purchases on credit card,which force them to pay interest on these purchases every month.
#3 Ignoring money or financial problems. Saving and investing our personal finances are the most important thing to do. We must always learn how to save for a rainy day, as well as manage your money so we can have extra cash on our hand. Therefore, cutting the need to use credit card during emergency.
With so many factors causing credit card debts, how do we solve this problems? How do we prevent this from happening to us in the future?
#2 Credit card should only be used as a convenience to pay if you have no cash on you, knowing that you can pay off the balance before interest is charge. Many cards have an interest free period. Never use credit cards as a loan beyond that free period. Even if others do, you have no need to do the same if you can pay off the balance as soon as possible.
#3 Plan all your borrowing. Sit down and write down what you absolutely must buy over the next year, and add what you would like to buy. Total the cost. Write down a budget for each month, making sure you have listed all your regular expenses that are fixed and unavoidable, and those over which there is some flexibility. Compare that total with your income. If you have a surplus, then you can think about those extra purchases you had in mind. If not, don’t think any more about them.
Resisting the pressures of the credit card society will be a lot easier once you have set your mind to it, and started to feel the benefits. Enjoy the process and you will be a cash convert for the rest of your affluent life.
Check this video out:
http://www.youtube.com/watch?v=BdYGZxORftg
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Tuesday, February 17, 2009 3:20 PM
♥彡Corporate Blogging: A new marketing communication tool for companies
A corporate blog is a weblog published and used by an organization to reach its organizational goals. The purposes of blog usage can be grouped in three fields – brand building (incl. leadership), customer service (inc. product development) and promotion (incl. sponsorship and advertising).
Corporate blogs have some unique features which make them perfect alterative or upgrade to typical corporate web pages which are usually exemplified by minor usage of user generated content (UGC) – i.e. the communication is one sided or asymmetric and the users do not have many opportunities to provide company with valuable information, not mentioning about the possibility of having on-line dialogue with company’s employees and other clients.
The key prerequisites for successful corporate blogs are:
- Symmetric communication
- Informal language
- Dialogue with readers which results in creating virtual community, and regular postings
- Integration with other media and other content,
- Clear rules and purpose of publishing (regulations).
There have three types of corporate blogs:
- Dialogue with readers which results in creating virtual community, and regular postings
- Integration with other media and other content,
- Clear rules and purpose of publishing (regulations).
There have three types of corporate blogs:
An internal blog, generally accessed through the corporation's Intranet, is a weblog that any employee can view. Many blogs are also communal, allowing anyone to post to them. The informal nature of blogs may encourage:
- employee participation
- free discussion of issues
- direct communication between various layers of an organization
- a sense of community
An external blog is a publicly available weblog where company employees, teams, or spokespersons share their views. It is often used to announce new products and services, to explain and clarify policies, or to react on public criticism on certain issues.
Lastly is CEO blog. Although there are debates on whether CEOs should blog or not, blogging among CEOs is becoming popular.
Links http://michaelhyatt.blogs.com/workingsmart/2005/03/corporate_blogg.html
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Monday, February 16, 2009 4:56 PM
♥彡Electronic currency
Electronic currency or better known as e-money, e-cash, digital money, digital cash or digital currency. There are plenty of terms for it, but it only has one function, it enables the storage or exchange of money or scrip electronically.
Electronic currency is widely use in these two products, the card-based products and software based products. Card-cased products are like multi-purpose prepaid card or “electronic purse” which was defined as a plastic card which contains real purchasing power, for which the customer has paid in advance.
(Examples are Touch & Go ,FYI Touch & Go can now use to purchase fast food!!!, our Identification cards which can be double up as a debit card and use Touch and Go service, the famous octopus card used in Hong Kong that can be use to pay for virtually ANYTHING, and of course debit cards)
A second form of electronic currency products uses specialised software on a personal computer, typically allowing the electronic value to be transferred via telecommunications networks, such as the internet.
(Paypal, E-gold, mol, web money are some of more famous online money transfer agent. Credit cards now also can be use to transfer money through the net as well as online banking services and many more)
Carrying cash around is troublesome especially when you have a lot of coins and a whole stack of cash. It adds in more weight plus you will feel insecure carrying large amount of money and eventually your emotion (nervous, anxious, etc) gives off signals that put you as a thieve's favourate list of target. Put aside cash and turn into these card-based products which give us more flexibility, more purchasing power, more security, saves time and the convinience of not carrying cash. Let illustrate this with an example.
You are carrying a debit card enables the direct transfer of e-money from our bank account to pay for something you purchase. Imagine how simple it is to just swipe and card and go while some other people who still spend time looking through their wallet digging out cash especially a large amount which put themselve at risk of having their money stolen. For cash, once you lost it, its gone FOREVER. If its a debit card, you'll just have to cancel it and your cash will remains the same in your bank account.
E-currency had revolutionize the business world as payment can be made throughout the world with the help of computers and internet. It made globalization possible, bringing economic benefits around the world as companies can deliver wider diverse range of services and product with great convinient and speed. Payment through e-currency is at an instant which overcome the limitation of physical cash of slow transaction speed.
Thanks to e-currency we are able to buy products from every corner of the world with ease, and my favorite, to actually trade e-currency through FOREX. It brings a lot of benefits to us, however some issues need to be overcome till we can truely, fully replace cash for e-cash.
Ps... To those who trade forex, please drop be my mentor! : )
Some interesting links : 1)http://www.murdoch.edu.au/elaw/issues/v6n3/ishman63.html
2)http://www.investopedia.com/terms/forex/e/electronic-currency-trading.asp
Labels: e-currency forex money
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4:28 PM
♥彡• Mobile payment systems in Malaysia: Its potentials and consumers’ adoption strategies.
Mobile payment is new and rapidly-adopting alternative payment method – especially in Asia and Europe. Instead of paying with cash, check or credit cards, a consumer can use a mobile phone to pay for wide range of services and digital or hard goods such as music, videos, ringtones, books, products and etc.
Mobile transaction can be made by Premium SMS transaction. This is where the consumer sends a payment request via an SMS text message to a shortcode and a premium charge is applied to their phone bill. The merchant involved is informed of the payment success and can then release the paid for goods.
Another method of mobile transaction is Mobile web payments (WAP). This is where the consumer uses web pages displayed or additional application s/he downloaded and installed on his/her mobile phone to make a payment.
Beside this, mobile payments are one of the strategic tools to meet these objectives and achieve higher economic growth. Electronic payment increases operational efficiency and improves productivity levels through expedient payments and receipts of funds. Mobile payments would also provide the speed and convenience of making payments from any place or time. It also reduces costs through the reduction or redeployment of resources used for handling cash and cheques.
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Sunday, February 15, 2009 11:42 AM
♥彡The application of pre-paid cash card for consumers.
A prepaid-cash card is a pre-paid debit card that enables the card holders to make their purchases. The payment is deducted from the card’s available balance. It has become popular and widely used in all parts of the world. The most common pre-paid cash card used in Malaysia is Touch ‘n Go card and mobile prepaid card.
Touch ‘n Go card is an electronic purse that can be used at all highways in Malaysia, major public transports in Klang Valley, selected parking sites and Theme Park. Touch ‘n Go uses contactless smartcard technology. The card looks similar to a credit card. User can continue using the card as long as it is pre-loaded with electronic cash. Do you know that from now on we can use Touch ’n Go card to buy burgers? Yes, it is true..The next time you go to a fast-food stall for your burger or doughnut, don’t worry if you have forgotten your money as all you need is your Touch ’n Go card. Check it out from here: http://thestar.com.my/news/story.asp?file=/2008/4/12/nation/20902911&sec=nation 
Motorist Noordalila Paris using her Touch ’n Go card to purchase doughnuts at a Dunkin Donut outlet at a petrol kiosk in Jalan Damansara Friday. From next Saturday, the cards can be used to pay for fast food at 21 outlets in the Klang Valley. 
Besides that, there are a lot of bank offering the prepaid card nowadays, such as, Eon Bank, Public Bank, Am Bank and others. It also divided into Visa prepaid and MasterCard prepaid. Prepaid cash card uses not only can a prepaid card enable customers who find it hard to get credit, but this type of card can help you take control of your finances, if you have found normal credit card interest rates too high and the balance offered too tempting. You can be confident that you will stick to your budget with a pre-paid card, as you are the one who sets it by deciding how much to top-up your card with. Moreover, most prepaid credit cards can enable you to need not longer to carry cash when shopping because you may use an ATM to withdraw money. Besides, it also can be at home and abroad transfer funds to send money to other cardholders shop on the internet with security. Consumer will need to pre-load their card before use and this can be done in different ways, such as, by direct transfer from a bank account, or by paying in cash at a nominated outlet. Therefore, the prepaid cash card is accepted in most of the ways that a normal card be.Check out methods for using these cards at http://www.patentstorm.us/patents/7082416/description.html
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