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Almost everything has become available online since the rise of the internet, and from apartment hunting to food shopping, going online has become a daily aspect of people’s lives. It quickly became apparent that banking customers should be able to access their finances online instead of having to find the nearest ATM for a statement, and thus internet banking was born. Some people were sceptical, and others wholly embraced the technology, but there was no doubt that internet banking was the future.

Nowadays, nearly 70 per cent of banking customers are registered to manage their finances online, and there are many reasons why internet banking has emerged as a staple of everyday life. Apart from being safe, convenient and secure, online banking is available 24 hours a day,and you can also transfer money to a friend or loved one whenever you want. Furthermore, online banking allows you to access your statement anytime you like, and from the comfort of your home. Here’s a list of the pros and cons of internet banking compiled by the people who love and hate it the most.

Pro – It’s Cost Effective

Internet banking means that you don’t have to travel to your nearest branch or ATM machine to access your finances. That means that you’re reducing your carbon footprint, especially when you think how many times you would have to travel every month to see your finances if internet banking wasn’t available. Furthermore, internet banking means millions of customers can be served at the same time, meaning less queues in branches, and more happy customers.

Pro – It’s Paperless

One of the most important advantages of internet banking is that it is paperless – gone are the days where your monthly statement is posted through your door! Banks have reported to have saved millions of pounds in printing since the introduction of internet banking, and many have donated a proportion of their savings to sustaining the green environment.

Pro – Easy Loan Applications

Before internet banking, customers who wanted to apply for a loan or IVAshad to make an appointment with their local bank. Depending on where a person lived, that could be a long journey, and even worse, some banks couldn’t provide appointments until months after the initial application. Nowadays, people who are registered for internet banking can simply apply for a loan online! In just a few clicks, a customer can fill in some details and get an answer to their loan application in a matter of minutes.

Con – Bank Relationship

Internet banking may be convenient, but customers used to be able to build up a trusting relationship with their bank manager. If personal circumstances changed, people could ask to talk to their account handler and explain their financial situation. Apart from providing the customer with peace of mind, bank managers could use their discretion in changing the terms of an account to help a person with repayments. However nowadays, this relationship has been lost.

Con – The Internet

This may sound simple, but what if a banking customer does not have access to the internet, or they are blind? In these circumstances, a person will have to go to a bank directly and organise their finances in person.

Payment Protection Insurance is an insurance typeproposed by lending corporations to individuals to help defend their loan and credit payments in case the individualscannot make the planned payment. PPI is intended to pay the debt if the individualloses his/her job, meets with an accident that prevents from working, or any sort of severe medicalissue. PPI differs from company to company. Like all sorts of insurance, PPI offers range of advantages.

Individuals, who are engrossed in buyingPPI,should go through the terms and conditions before moving forward to signing a PPI agreement.

Payment protection insurance is intended to keep off the debts if you’re unable to work due to some accident or some permanent disability. The PPI Claims would help you pay the regular amount of money to cover your loans and mortgage payments credit and store card payments. The lender company would pay the monthly payments for duration of twelve to twenty four months or until you get fit enough to start working again.

Other benefits of PPI claims are:

The PPI Company provides beneficiaries of payment protection to the customer. This would ease customer’s burden in the tough financial situation with minor extra fee that would be later added in your loan payment amount.

Even if the individuals are working and in good position with the PPI company can qualify easily for PPI. The details of PPI information along with billing statements are mailed to individuals so that can keep track of payments. The service to ask questions about the bills to online customer service is another facility provided by the lending company nowadays.

Most credit card companies and lending companies mail out PPI information with monthly billing statements. They may also offer the service to customer when they call in to make a payment or with questions regarding their bills.

Another facility provides by lending companies is the instant coverage. As soon as the individual agrees with the terms and provides the supporting documents, the PPI insurance is executed immediately. Some of the insurance companies offer waiting period of 4 months. The duration varies from lender to lender.

The money problems of the individual can be eased during the tough job times like during the recession or job uncertainty period or during the times when you could grab another job.

At times you invest all of the money in loans for your dream house or cars with some or almost no savings PPI claims can work leaps and bounds and help you escape the difficult financial circumstances without giving up your house or car dream. The PPI lending companies have come up with various facilities. It is up to you to select the one that suits you the best in the current situation.

Nothing in life is free. This old adage applies not only to earning an education, but landing a job in the workforce. There is a price to be paid at every level to earn an education whether it is property taxes to pay for public elementary and secondary schools, or tuition to pay for a post-secondary education. Beyond a Bachelor’s degree it is up to the individual to invest further in their education in order to increase their earning potential.

Many individuals with a Bachelor’s from a business program or currently employed in the business sector choose to pursue a Master’s in Business Administration. Pursuing any Master’s degree, an MBA included, is an added expense for an individual’s education. Earning an additional degree needs to pay off in the end by giving graduates the leg up they need to land higher paying jobs.

So, after a student graduates from an MBA program, what are some of highest paying careers for Master’s of Business Administration graduates? According to Monster.com there are a number of sectors in the business industry that offer six figure salaries to graduates with an MBA.

Finance

According to Monster.com, the field of finance is one of the few in business where an MBA is almost a must-have in the eyes of an employer. An MBA is seen not only as important for advancement in finance careers, but also for junior and entry-level positions as well. The median mid-career salary for many MBA holders in finance is $121,000 annually. The following are some of the highest paying careers for Master’s of Business Administration graduates:
– Chief Financial Officer: $168,000
– Finance Director: $151,000
– Senior Financial Analyst: $85,600

Marketing

Marketing is a different animal when it comes to the need for an MBA, especially compared to the field of finance. While it is possible for entry and junior-level employees to land and hold jobs in marketing without an MBA, the current economic situation has made holding an MBA an advantage when it comes to advancement. According to Monster.com, the median mid-career salary for MBA holders in marketing is $113,000 annually. The following are some of the highest paying careers for Master’s of Business Administration graduates:

– Marketing Director: $133,000
– Business Development Manager: $105,000
– Marketing Manager: $102,000

Information Systems

Similar to the field of marketing, individuals working in the field of information systems do not necessarily need an MBA degree to be successful. Possessing relevant experience in the field of information systems and the proven ability to solve real world problems is as important to employers as an MBA. Those hoping to reach higher executive level positions will eventually need an MBA however. Monster.com reports that the median mid-career salary is $106,000. The following are some of the highest paying careers for Master’s of Business Administration graduates:

– IT Director: $120,000
– IT Project Manager: $103,000
– IT Manager: $99,800

No two individuals will have the same experience upon graduating from an MBA program. The degree itself will not qualify any two people for high paying positions on merit alone. Individuals will need to pursue additional certification in some fields and have proven on-the-job experience with real world success. According to Katie Bardaro of PayScale.com, it is important to remember that simply earning an MBA isn’t a recipe for success. Bardaro reminds students that it is important to remember which MBA focuses are common in business and which ones are desired.

Signs of a Shopping Addiction

Like any other addiction, it can be difficult to recognize when you’ve truly crossed the line into the dangerous territory of “shopaholic.” It’s one thing to recreationally shop at the mall on a Friday night and do a bit of end-of-week splurging, and another to make it a weekly – or worse, daily – habit. This habit, as has been seen in financially devastated households across the country, can culminate to cripple not just your budget, but your entire family’s budget.

Below are five tell-tale signs you may belong to the 6 percent of Americans who have developed addiction to shopping:

1. Impulse shopping. Perhaps the most common sign of being a shopping addict is the tendency to purchase items you didn’t intend to buy, instead acting on a general whim. When the sales clerk approaches you and tries to sell you a product, are you more likely to say “no thanks” and walk away, or find a justification to buy the item against your better judgment? You may notice that you especially have this tendency with a particular group of products you’ve taken a liking to – clothing, electronics, etc.
2. The “rush.”The next time you find yourself out and about at a shopping center, stop to consider why you’re there to begin with. Have you set out on an agenda to meet a specific need, or are you wandering about in search of something to do – the “rush” of purchasing a product? Shopping is attributed with increases in dopamine levels of the brain upon buying a product, providing a science to what some may incorrectly see as a fickle disease. This dopamine rush can, more often than not, form a real addiction that makes you crave a new purchase much like you would a cigarette.
3. Stress shopping. Shopping addiction forms when other aspects of life begin to go awry. If you find that you shop the most when your stress levels are high or you flee to the mall post-argument, re-evaluate your shopping habits. You may be particularly prone to this habit if you already suffer from other disorders such as depression, anorexia, or bi-polar disorder.
4. Your closet is already filled with tagged items. Perhaps the most obvious looking-glass sign that a person suffers from a shopping addiction is the stockpiling of unused items. If your closet is loaded with clothing items that have had their tags attached to them for a long period of time and have begun gathering dust, it’s an obvious sign that a person’s shopping habits are beyond irregular and need attention called to them.
5. Anxiety. Though not the easiest feeling to pinpoint with the million other stressors in your life, it is likely that your anxiety is a result of shopping (or a lack thereof) if you feel it most overwhelmingly during the days you haven’t gone shopping. Consider it a withdrawal that can drastically alter your mood and ability to concentrate.

This addiction, referred to by psychologists as Compulsive Buying Disorder, can lead to a frenzy of financial distress, as you find yourself signing up for credit cards you can’t afford (especially retailer-specific cards) and re-allocating funds meant for essentials so you can purchase that “must-have” cardigan carefully placed in the shop window for your eager eyes to ogle. To help prevent your addiction from moving any farther along its trajectory, consider taking small steps to changing your habits: carry a set amount of cash everywhere you go, change daily routes to avoid stores, exercise, and more. The proactive steps just may save you a bundle in the long run.

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In the week before pay day, many people start praying for their next cheque to clear, as finances start to get dangerously low. Living from one pay cheque to the next can be dangerous, and before you know it, you’ve borrowed yourself into debt. 61% of people admit that they live from pay cheque to pay cheque. So how can you avoid this trend?

Budgeting

With a budget, you’ll have a clearer idea of how much disposable income you have, and this will hopefully stop you from overspending. It may become clear that you are living above your means and that it is time for you to cut down on expenditures; particularly luxuries.

Be a Tracker

Tracking your spending means you have a better idea of where your money is going. Save your receipts and organise them into categories so they are easy to manage. Tallying up the total will give you an overview of total spending. Using Excel can help you analyse the data and make decisions on where you need to cut down.

Maximise Your Income

If you can get a raise, flutter your eyelashes at your boss, but a higher salary isn’t the only way to increase your income. Consider working part-time on a Saturday or turn your hobby into a cash cow. However, making more money doesn’t necessarily mean you will cure your tendency to spend all of it before pay day. 30% of workers earning six figure salaries also admit to living from pay cheque to pay cheque.

A Financial Paradigm Shift

If you are in this overspending position, it’s likely that you aren’t the most responsible person with your money. You may spend more than you really make by overestimating your income. You may just have few organisational skills when it comes to money and you have no idea where it is all going. In this case, hopefully your budget will do all the hard work and get you back into a good financial position.

Set yourself goals and visualise yourself as master of your bank account – the days of borrowing from family and banks are over. Keep that in mind and stick to your budget, rewarding yourself every now and then with a treat. Try to focus on only spending what you need to for 99% of the time: bills, rent, and travel to work.

Uncertainty

In an uncertain climate, who knows when you will need disposable money to prop you up? You may lose your job or get into an accident. In these situations it always helps to have an emergency savings fund, but how are you going to protect yourself if you can’t even make it to pay day, let alone put money aside? Guard yourself and your loved ones through responsible financial practices and cut down on all the luxuries which are putting you further into debt. It’s time to stop worrying.