Category Archives: financial

Serious Fitch warning of global growth

Despite these small downgrades, Fitch points out that prospects remain strong as the figures move significantly higher than the historical average. However, growth is now less synchronized and balanced.

This reflects differences in monetary policy, exchange rates and fiscal policy. The latter is particularly aggressive in the US but neutral in Europe. Especially for the eurozone, the company claims that growth seems to have caught a ceiling unlike the US, and now sees it moving at 2% or 0.3% lower than the previous estimate.

Lagarde: Commercial war and financing the two major dangers for the global economy

The head of the IMF sounds the alarm.
“There are two major categories of risk to the global economy,” said IMF chief Christine Lagarde in an interview with Bloomberg TV.

“The first is related to trade intensities that continue last year and involve the risk of retaliation. Addressing these risks requires a reduction in tension and a dialogue to reform the rules of international trade and to improve the system in its present form. The second category of risks is about financing, as there will be tighter monetary measures in the US due to the improvement of its economy, but it will have an impact on the economies of the world, “the IMF chief said.

These will be the most powerful economies in the world by 2050

It is also expected to double the growth rate of emerging economies versus advanced economies.
The ranking of the 15 strongest economies is based on PwC’s exposure data, based on long-term projections for the overall economic situation of 32 countries, based on the projected increase in their GDP with their PPP. Numbers are in trillion. US dollars and at constant prices.

It is worth noting that global GDP growth is expected to be at 130% from 2016 to 2050, while the growth rates of emerging economies (China, India, Brazil, Indonesia, Mexico, Russia and Turkey) will double compared to advanced economies USA, Canada, Britain, France, Germany, Italy and Japan).

Serious warning from Nobel laureate economist Paul Krougman about the global economy

How close to the recession lies the planet, and what we have to do this year to avoid it.
His fears of a possible recession in the global economy in 2019, Nobel laureate economist Paul Krugman said at a news conference in Dubai, CNBC reported.

“I think there is a fairly good chance that we will enter a recession later this year (or) next year,” Krougman said, arguing that it is unlikely to be just a “big event” that will cause economic recession. Instead, a series of financial exposures will increase the likelihood of slowing down … The main concern has always been that we do not have an effective response when the economy is slowing down. ” Right now, the eurozone is very close to recession. ”

Last week, the European Commission significantly downgraded its projections for euro area economic growth in 2019 and 2020. The Commission said growth will slow down this year to 1.3% from 1.9% in 2018 and is expected to recover 2020 to 1.6%. The estimates were considerably less optimistic than the Commission’s previous forecasts, published in November, when Brussels expected growth in the Eurozone to be around 1.9% this year and 1.7% in 2020. The news intensifies fears that the global economic downturn is spreading in Europe.

Krugman also argued that President Trabp’s stimulus program through a reduction in tax revenue is a matter of concern, calling the program “not very effective”.

“Markets are increasingly concerned about the prospect of a severe economic downturn in the coming months, with the US-China trade war being a challenge for entrepreneurship and the consumer climate. Most economists, as well as some global business elite, agree that economic growth is slowing down, but policy makers have expressed some hope for a “smooth landing” rather than a final recession, “said Krugman.

France wants a minimum corporate tax at a global level

France wants to push during its G7 presidency for a global tax system that includes a minimum corporate tax on a global level, Finance Minister Bruno Le Mer said today.

Le Mer said at the World Economic Forum in Davos that this is necessary to address the imbalances between taxes paid by large and small businesses. He added that he has discussed the idea with the US.

“There is a common understanding among all G7 members that we need a new tax system,” he said.

It is recalled that IMF chief Christine Lagarde has also advocated a new international corporate tax system and today reiterated that the main risk facing the global economy is the trade dispute between China and the US.

“A slowdown in China is OK, it is acceptable,” Lagarde said, adding that “if the deceleration accelerated, that would be a real issue.”

Personal Loan Interest Rates for February 2019


Personal loan interest rates, whether you’re considering a loan from a bank, credit union or online lender, generally range from about 6% to 36%. The actual rate you receive depends on factors such as your credit score and history, annual income, existing debt and where you get the loan.

Comparing rates — along with monthly payments and total interest — can help you choose the most affordable loan. Here’s a look at average interest rates on personal loans from online lenders, banks and credit unions.

Online personal loan interest rates

Online lenders offer the lowest starting interest rates on personal loans to borrowers with good to excellent credit. Use the calculator below to see estimated rates and payments from online lenders based on your credit score.

The annual percentage rate on a loan is its interest rate plus all fees, including origination fees. When you’re shopping for a loan, always check APRs for the best cost comparison.

In addition to low starting rates, online lenders typically do a soft credit check for pre-qualification, which allows you to compare rates without having an impact on your credit score. Banks and credit unions typically do a hard credit check, which can temporarily shave points off your credit score.

» MORE: 4 steps to pre-qualify for a personal loan

Who has the best online personal loan interest rates?

Loans from online lenders LightStream, SoFi and Marcus carry some of the lowest starting APRs. LightStream’s APR range varies by the reason for a loan, with its lowest starting rate applying to a new or used car purchase.

LightStream and Marcus both require a minimum credit score of 660. LightStream accepts joint applications, and one applicant can have a credit score lower than its minimum. SoFi has a slightly higher credit score requirement and requires at least $45,000 in annual income.

• APR: 3.99% – 16.99% (with autopay).

• Loan amount: $5,000 – $100,000.

• Loan terms: 2 to 7 years.

• Minimum credit score: 660.

• Time to funding: As soon as the same day.

• Fees: None.

• Read our review.

• APR: 5.74% – 16.49% (with autopay).

• Loan amount: $5,000 – $100,000.

• Loan terms: 2 to 7 years.

• Minimum credit score: 680.

• Time to funding: Typically 7 days.

• Fees: No origination fees, late fees or overdraft fees.

• Read our review.

• APR: 5.99% – 28.99%.

• Loan amount: $3,500 – $40,000.

• Loan terms: 3 to 6 years.

• Minimum credit score: 660.

• Time to funding: Usually 2 days.

• Fees: None.

• Read our review.

» MORE: Personal loans for good to excellent credit

Personal loan interest rates at banks

Large banks that offer personal loans include Citibank and Wells Fargo. Banks may offer competitive rates — and rate discounts if you’re already a customer — but they typically have tougher eligibility requirements and can take longer to fund your loan than online lenders.

Commercial banks charged an average APR of 10.70% on 24-month personal loans in November 2018, according to the most recent data from the Federal Reserve.

» MORE: Compare banks offering personal loans

Personal loan interest rates at credit unions

Credit union loans may carry lower rates than banks and online lenders, especially for those with bad credit, and loan officers may be more willing to consider your overall financial picture.

The average rate charged by credit unions in December 2018 for a fixed-rate, 3-year loan was 9.37% APR, according to the most recent data from the National Credit Union Administration. Federal credit unions cap the APR on personal loans at 18%.

You have to become a member of a credit union to apply for a loan, and the loan application may result in a hard credit check.

» MORE: Pros of credit union personal loans

How to pre-qualify for a personal loan

Pre-qualifying for an online loan can get you access to potential loan terms, including the loan’s interest rate. You can pre-qualify with multiple lenders on NerdWallet to compare offers and find the lowest rate.



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Preparing to buy a new car


Yesterday, Kim and I joined my cousins for an afternoon trip to the Oregon Coast. Our aim was to harvest a bounty of clams. We came home with zero. We managed, however, to harvest a bounty of mussels. Plus, the dog had fun.

Duane, Kim, and Tally at Cannon Beach

My cousin Duane carpooled with us to and from the beach. We rode in Kim’s car: a 1997 Honda Accord that’s showing signs of its age.

“It’s a little warm in here,” Duane said about ten minutes into our drive. “Would you mind turning down the heat?”

“Well, I can’t turn down the air,” Kim said. “It’s stuck on high. But I can turn down the temperature.” She laughed as she demonstrated that the knob for the air volume has broken off at the post. The vents now permanently blow at full force.

“This car is falling to pieces,” I said. “Literally.” As if to prove my point, a bit of molding fell from a roof handle. I picked it up and wedged it back into place.

“I like my car,” Kim said. “I have an emotional attachment to it. But I’ve come to the realization that it’s time to start searching for something else.”

More and more, it looks like our vehicles have reached the end of the road.

The End of the Road

Kim bought her car 22 years ago at a model-year closeout sale. It’s lived with her in Minnesota, Arizona, California, Idaho, Washington, and Oregon. In that time, the Accord has logged nearly 250,000 miles and never given her any major problems.

Kim's Honda Accord

For a decade, I’ve been driving the 2004 Mini Cooper I bought as my first exercise in saving after I paid off my debt. In the ten years I’ve had it, I’ve put 90,000 miles on my Mini (bringing its total mileage to 150,000). We even took the Mini with us on our 15-month cross-country RV adventure!

My Mini Cooper in Monument Valley

Until the past couple of years, the Mini was trouble-free. During the RV trip, however, the fuel pump died. Then, when we got home, I funneled about $4000 into several repairs over a twelve-month span.

This winter, the Mini developed another problem: The sunroof began to leak (and in a big way). This isn’t good during rainy Oregon winters. In fact, it basically means my little yellow friend is unusable until things dry out.

Meanwhile, the old reliable Accord has developed an oil leak. The leak is dripping onto the fan belt. Our mechanic says Kim’s car needs about $1500 in repairs. That’s not too bad, but it’s more than the car is worth. Plus, we suspect that’s just a small taste of what’s to come.

Because I could see the writing on the wall — and because we need something to haul Big Stuff at our country cottage — I picked up a 1993 Toyota pickup at the end of 2018. I love it. (Seriously, I do. I just bought Taylor Swift’s latest album on cassette so that I can make use of the tape deck, which makes it even more fun.)

My 1993 Toyota Pickup

The tape deck in my Toyota truck

But the truck is a stop-gap measure. Kim and I feel like it’s time to pick up a newer, more reliable vehicle. Neither of us relishes this idea, but that’s where we are. Last August, I asked you folks which new car I should buy. You offered a lot of great suggestions. But by purchasing a used pickup, I’ve put my own car dilemma on hold — for a time, at least. Kim’s situation, however, seems pressing.

Fuzzy Math
I found it surprisingly difficult to decide whether or not I should buy a 1993 pickup with 211,000 miles on it. The previous owner is a friend and colleague. I trust him. He says the truck runs great. And, so far, it does. But it’s 25 years old! I worry.

I paid $1900 for the truck. How many miles and/or how much time do I want to get out of it before I consider I got my money’s worth? I’m not sure. I paid $15,000 for the Mini and have driven it for ten years (and 90,000 miles). That’s roughly $1500 per year and 17 cents per mile. Using these numbers as guidelines, I guess I hope that the truck will last a year or two, or that it’ll get me 10,000 to 12,000 miles.

On the other hand, I just bought brand-new 45,000-mile tires for the truck, so maybe I’m hoping it’ll last me for several years!

Kim’s Car-Buying Priorities

Before the Accord started showing its age, Kim’s plan had been to sell the car to a couple of young women we know. They’re in the process of getting their driver licenses and will soon be looking for a cheap car. We thought the Accord was perfect! Now, though, we’re not so sure. Is it really fair to sell them a car knowing it needs $1500+ in repairs? (Maybe we should just give them the car and tell them about its issues?)

Regardless what happens with her current car, we both agree that it’s time to accelerate her timeline for buying a new vehicle.

“What are your priorities for a new car,” I asked last week.

“Well, I want something that fits our lifestyle,” she said. “Apparently, we take the dog everywhere, although I doubt they make dog-specific cars. I want something that lets us haul the kayaks and the bikes. I want to be able to make long road trips comfortably. Ideally, I’d buy an electric car or a hybrid.”

“Anything else?” I asked.

“I want heated seats,” she said. “And a place to put my sunglasses and chapstick.” (If Kim could only take one thing with her to a desert island, it’d be chapstick.)

“Because our cars are so old, any reasonably new vehicle is going to seem like a massive upgrade,” I said. I’ve spent approximately thirty days in rental cars over the past year. They all seem like they’re from the future. (And my friend’s $150,000 Mercedes S550 I rode in last spring? Totally the Enterprise 1701-D!)

“What’s your budget?” I asked.

“I have $16,000 in a targeted saving account specifically for a new car. If I sell my motorcycle, that would probably give me about $5000 more. So, I guess I’m looking at somewhere between $20,000 and $25,000.”

Preparing to Buy a New Car

Between us, Kim and I own three vehicles. Their average age is 21 years and their average value is maybe $1750 each. Obviously, we’re not car people. We place no value in having the latest, greatest vehicle. Neither one of us is looking forward to the car-buying process. It sounds like an ordeal, not something fun.

Fortunately, we know better than to visit dealers until we’re absolutely ready to purchase. (And truthfully, Kim is more inclined to buy a used vehicle from a private party.)

Kim had planned to put off buying a new car until sometime this summer. Now we suspect we’ll have to make the move sooner rather than later.

To that end, she’s started doing research. She asked her Facebook friends for their recommendations. I polled the people who subscribe to the weekly GRS newsletter (and received some terrific response!). Kim has been reading about different cars online. And soon — maybe next week — the annual Consumer Reports car-buying issue will land in our mailbox.

Over the past thirteen years here at Get Rich Slowly, I’ve shared many articles about the car-buying process. Here are some of the most useful:

It’ll be interesting to see which car Kim chooses and how we end up buying it. Deep down, I know she longs for a Tesla Model 3 but at $35,000+, they’re far outside her budget. I suspect she’ll end up with a Subaru Outback or something similar.

Maybe the next time we take Duane to the coast to dig clams, we’ll ride in comfort…and actually catch some clams.

Ironic Footnote
As I was writing this article, Duane phoned me. “Can you pick me up and take me to my oncologist appointment?” he asked. “My car just died.” I spent the next three hours helping him get things sorted.

My post about our dying cars was delayed by Duane’s own dying car.

“Maybe I should buy Bob a new car,” Duane said as we waited for the tow truck to arrive. It was a morbid joke. Duane has terminal cancer. Bob is his brother. If Duane were to buy a new car, he wouldn’t have it long. It’d soon get passed along to his Bob. This adds wrinkles to his own vehicle dilemma.

Author: J.D. Roth

In 2006, J.D. founded Get Rich Slowly to document his quest to get out of debt. Over time, he learned how to save and how to invest. Today, he’s managed to reach early retirement! He wants to help you master your money — and your life. No scams. No gimmicks. Just smart money advice to help you reach your goals.



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Dishwasher Detergent Buying Guide

Envision your hardest heap of dishes—possibly a couple of hours after a major family dinner, plates canvassed in sticky cranberry sauce, pots covered in oil and stuck-on pureed potatoes. That is nothing contrasted with the test we make for dishwasher cleansers.

First there’s the blend of nutty spread, egg yolk, and other sticky sustenances that we smear on clear glass dishes. Pots get a covering of prepared on macintosh and cheddar. It isn’t pretty, however it is successful at making sense of which cleansers are capable.

The market keeps on advancing toward single-portion cleansers, those commonplace units and pacs that you helpfully fly into the dishwasher without estimating. The majority of our best performing cleansers presently come in this plan.

Another critical advancement: some store marks currently rival the name-brand rivalry. That is uplifting news since store marks normally move for substantially less, which implies the expense of doing dishes could go path down­ without trading off on cleaning power – however just in the event that you utilize the cleansers and your dishwasher legitimately.

Dishwashing Detergents Types

Dishwasher cleansers come in a few structures. Here’s a glance at each kind.

Single-portion units

Otherwise called pacs, bundles, tabs, and tablets, these single-portion units convey an advantageously pre-estimated measure of cleanser. This comfort is boosting deals, and Consumer Reports’ most recent trial of more than 30 cleansers found that the best performing single-portion units clean superior to the best powders and gels. Cost per load ranges from 10 to 41 pennies among the items in our tests.

Powders

You need to allot the correct sum for each heap, obviously, yet the cleansers we tried can take care of business, despite the fact that they all experience considerable difficulties cleaning pots. Cost ranges from 10 to 30 pennies a heap.

Gels

This is your most economical choice. The gels we tried cost only 5 to 11 pennies a heap. Just a single gel we tried scores sufficiently high to make Consumer Reports’ suggested rundown, and the most noticeably bad of every one of the 30 or more cleansers we tried is a gel.

The most effective method to Improve Dishwasher Performance

Any cleanser cleans better in the event that you rub off sustenance from dishes and pots before you load them in the dishwasher. There’s no compelling reason to wash. Here are some different techniques to get dishes clean.

Soil sensor. Most dishwashers sold in the previous seven years or with the goal that cost $500 or more have a sensor that checks how messy the water is. The sensor decides the measure of water and time expected to get the dishes clean. At the point when the sensor identifies practically no sustenance, the dishwasher gives the dishes a lighter wash, which can leave bits of nourishment on dishes and glasses.

Also check laundry detergents and cleaning detergents

Stacking tips. To help your machine’s cleaning, load expansive things at the edges and back so they don’t hinder the water and cleanser. Face the dirtier side of dishes toward the focal point of the machine, and don’t give dishes or utensils a chance to settle together. Spot things with prepared on nourishment in the base rack, face down toward the showers. Rest glasses topsy turvy on prongs so they don’t load up with water. Utilize the best rack for plastic and fragile things that are dishwasher-safe.

Wash helps. Despite which dishwasher cleanser you use, on the off chance that it doesn’t contain a wash help, think about utilizing one. Flush guides forestall spotting and enhance drying. That is on the grounds that the wash help breaks the bond between the water particles and dishes, making water structure sheets and slide off.

Cost of wooden floor

Wooden flooring has become extremely popular in the modern era, and it’s easy to see why – it’s beautiful, hardwearing and easy to clean.

There’s nothing quite like the sheen of a gorgeous oak floor to set off a room. Flooring prices vary significantly so you might look upon owning your own wooden floor as a dream rather than something that’s realistically attainable.

However, lower priced laminate flooring is a cheap solution that, if installed well, can look lovely. If you want the real thing though, you should expect to pay for it. When you’re working out your budget, it’s important to consider the various types of wooden flooring available as this will have a major impact on cost.

There are a number of factors that attribute to the cost of laying a wooden floor, and with a little work, there are ways to keep costs down. Whether you’re doing the entire project yourself, or getting a professional in to help, you can often knock down the price with the following steps.

Carpet Removal and Disposal

Clearing a room, pulling up the carpet and disposing of the waste materials doesn’t require a lot of skill. If you get your installers to waste their valuable time doing this, then you better be ready to pay for the extra labour.

But you can do this yourself very easily and it won’t take long to do. Then, when tradesmen come to measure up, you’ll be in a good position to negotiate.

Remove Existing Skirting Boards 

Though you might not have initially considered it, when wooden flooring is installed, existing skirting is normally removed and thrown away. Floorboards can then be laid right up to the edge of the room with the required breathing room. New skirting is applied or threshold strips can be attached directly to the wall for a clean, chic finish. Again, by doing this low-skill job yourself, you can save your floor installers time and reduce overall costs. 

Install Underlay

Though many installers might prefer to do this job themselves, if you’re trying to keep costs down, then it’s worthwhile installing the underlay yourself. What’s essential is that you end up with a perfectly level floor.

On concrete foundations you may need to use a self-levelling compound, as well as putting down a damp proof membrane. On other foundations you can simply buy foam underlay, roll it out and cut it to shape. It’s best to allow the room to settle for a few days before fitting the flooring. 

Install Wooden Flooring Yourself

Up to this point, the project is relatively simple. However, the actual fitting of wooden flooring can be difficult depending on your experience and the tools you’ve got to hand.

Meanwhile, if you want to use engineered materials, you may want to research wooden floor fitting costs as it’s more difficult to install. Whilst engineering flooring normally comes with a tongue-and-groove fastening, solid wooden boards need to be nailed or glued down. They’re harder to work with and it’s also more costly if you make a mistake.

Wooden Floor Costs

If your skills are up to the task, then installing a wooden floor yourself can be a great way to save money as you’ll only need to pay for the materials themselves. You can work at your own pace, and though it might take longer, at least you won’t have fitters disrupting daily life.

Depending on the material, costs can be as low as £16 for a pack of laminate flooring to cover roughly 1.25m² and around £25 for engineered wood for the same area. That’s between £345 and £540 to cover 27m²; though it should be noted this is at the budget end of what’s available. As a comparison, a single square metre of solid wood can cost upwards of £50.

Accessories – When you’re pricing up your new floor it’s essential not to forget about the accessories. Underlay, threshold strips, pipe surrounds and new skirting boards will soon add up, not to mention the costs of paint if you need to give skirting a fresh face-lift.

Hiring Professionals for wooden floor, wooden doors and wooden stairs

For peace of mind, and to make life easy, you might want to get professionals in, either to lay the floor, or to do the entire project. It’s important to negotiate as much as possible, especially if you’ve already done some of the groundwork. You should also seek to get at least three quotes as fitting costs will vary.

If you’re having laminate flooring laid over a 27m² area, you can expect costs of around £1,000 to £1,400. Meanwhile, if you’re having a solid wood floor laid, then costs will be at least £1,000 more. Because of the expense of such a project, it’s a good idea to use a trusted service to be sure you’re collecting quotes from legitimate, reliable firms.

Wooden flooring can be an extremely beautiful and robust addition to your home. Luckily, there are several ways to keep costs down so that, regardless of your budget, you can enjoy this modern home décor feature.

Benefits of Car Advertising

By and large, a common U.S. driver voyages 13,476 miles for each year. That is 36 miles every day, which implies there are many individuals out and about that could be potential clients! Gone are the days when individuals lived, worked and played in a couple of square sweep. As America’s populace has flooded in the course of the most recent 75 years, our country has turned out to be more subdivided and our reliance on autos has expanded. Thusly, vehicle promoting has turned into an authentic type of showcasing. One that, on the off chance that you are a nearby business hoping to pull in neighborhood clients, can’t be overlooked.

We should investigate a portion of the advantages vehicle publicizing can have.

The Benefits of advertising on the car

70k-impressions

Lots and bunches of impressions – According to the Outdoor Advertising Association of America, it is assessed that amid a normal day, a vehicle notice can reach up to 70,000 impressions. That is a great deal of eyeballs! Truth be told, vehicle promoting contacts a bigger number of individuals than bulletins, radio, standard mail, nearby gathering mailers and mass travel publicizing. In any case, here is the best part – most people say that commercials on vehicles are in reality increasingly detectable, progressively noteworthy and made them make a move faster than conventional types of publicizing.

Economical advertising production

Like any great advertiser, one can’t just take a gander at the measure of impressions a crusade may get and infer that it will be effective or not. There are a great deal of mediums out there where you can purchase a large number of impressions however it will cost you a pretty penny when it is altogether said and done. In this way, we should pile up vehicle promoting expenses to other publicizing openings out there. When you stall the expense per-thousand measurement for every one of the fundamental publicizing mediums, you can see that vehicle promoting is unmistakably more affordable than it partners. Remember, this is for a solitary promotion. Regardless of whether you had an armada of 5 or 10 vehicles, each with their own promotions on them, at $.35 per thousand, it would in any case be $1850.00 less expensive than the following nearest medium on the list.cost of showcasing channels

Tax benefits

Ok, before you begin bouncing all over, supposing you can discount your entire vehicle by slapping a decal with your business logo on it… ..you can’t. Frankly, auto findings are very examined by the IRS and shouldn’t be messed with. A couple of years back, it was governed by an official courtroom that a business couldn’t discount 100% of a vehicles costs just as a result of a promotion. The uplifting news is, any cost that goes into setting said commercial can be discounted. Along these lines, in the event that you need to have an advertisement painted on your vehicle, have your truck wrapped or simply place a cool decal in your back window, pull out all the stops. Simply monitor the costs and discount them come expense time.

It’s quite certain that vehicle promoting – decals or magnets – is an incredible path for little and neighborhood organizations to advertise themselves. For little venture, you can transform your vehicle or truck into a portable bulletin that achieves potential clients and makes them make a move. Furthermore, with ad in favor of your vehicle, you wouldn’t fret being stuck in a couple of more congested roads!