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21 Nov 2017

The Most Common Things People Use Their Savings Account Earnings On?

It is in our human nature to want things that other people have. Hence, at times people spend their savings on something outrageous or something they have been dying to buy for ages. It might be a television set your next door neighbour had just bought or a gaming console that just came out that triggered the impulse. However, every person has different needs and from time to time they get the urge to splurge a little.

Following are some of the things that people spend their savings on:

Car

People often open a bank savings account just for the sake of saving up for a big investment, like buying a car. They might see their neighbour or friend driving something fancy and decide it is time for them to upgrade too. An average person spends around £3,900 in a year, which means around £80 a week. This means, if a person decides to invest in a car, then this amount increases and the money is spent from a savings account.

However, how much they earn on their savings account varies depending on their choice of bank and terms. This directly translates into the time required to save up on their investment.

Restaurants and Hotels

A single person living in a dorm or an apartment usually does not cook. There might be a dozen reasons for ordering food such as working late or they often forget to eat and groceries go bad, etc. An average person spends around £3,016 in a year, which means around £58 a week on food. This amount is only 8% lower than the amount spent on restaurants and hotels. Most people order pizza, Chinese or Thai food on a regular basis, which is how they explain spending their savings on something they love.

Clothing and Footwear

Everybody likes to wear good clothes, especially on special occasions. People often spend extra money on clothes for their first day at job, for a wedding, or for a party, among other occasions. Though the amount spent on clothing is less than that spent on cars and restaurants, it is still something that people pay from their earnings from their bank savings account.

Availing Services

Nowadays, men and women both spend equal amount of money to make themselves look beautiful. While a woman might go to a spa to get the royal treatment, a man will go get a sauna bath to relax from his hectic work schedule. The additional cost of these services are often borne using one’s earnings from a savings account.

Household Goods

People often go a little crazy in buying the latest household appliances or goods such as a baker might want a six burner stove with an oven while an avid football watch might want a 52″ inch plasma. People usually indulge in these items if they have a bank savings account.

In UK, people spend most of their money on transport, food, and recreation. The amount of money used above their spending limit usually comes out of the earnings they gain from a savings account. …

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26 Oct 2016

What Is the Importance of Stock Market Broker in the Investment Journey?

Over the past few years, the role of the broker has evolved greatly. If you are considering an investment in the stock market, get in touch with a broker. In the realm of general finance, stock market investment is something where you reap high returns only when the investment is done carefully. Now, the role of a broker is not restricted to buying and selling of stocks. You can wade through the entire process of investment with the help of a broker. The broker can provide you information on the shares after conducting a thorough market research. Thus, you can consider investing on alternative asset while subscribing to the mutual fund schemes and IPOs. Broker of stock market can also provide you financial assistance. Thus, in short, the broker has become a one stop solution to all your market investment. Let us now peruse through the role played by a broker.

Well, the primary function of a broker is always buying and selling of stocks. He will act as the connecting link between the company and the investor. With the help of a broker, you can invest or transact on stock market with ease and comfort. If you sign up a broker, he will buy or sell the shares on your behalf. In fact, online trading facility allows the investors to execute trades directly on the online trading platform. Just after the transaction is completed, you get the information on purchase and sales of stocks. You will get the account details in written form.

In the USA, most brokerage houses have their own team for conducting researches on the companies and their stocks. They evaluate the macro-economic scenario which affects the stock market. It is basing on the various inputs forwarded by research team that the brokerage house recommends the purchase and sale of stocks.

Brokers also provide intra-day stock trading tips and an idea on how the market will trend. They offer alerts on stocks and news on a continuous basis. If you wish to improve on your knowledge about stock trading, you can attend investor educational program organized by a broker. You will get a knack of stock trading.

Most of the brokers offer personalized service to their clients. Brokerage houses hire relationship managers to talk to the clients. These relationship managers act as advisors in stock trading. They inform the clients when to make investments and what to purchase. You can get great help for intra-day trading.

Nowadays, stock brokers are financially sound. They are well capitalized with strong balance sheet featuring high equity along with debt on books. Most of the brokerage houses provide financial assistance to the clients or investors. You can take position in the market after the payment of the amount.

The Future is Yours

In-a-nutshell, today’s brokers have become one-stop-investment solution provider. They have multiple roles to perform. On the other hand, brokers offer a lot of ease and convenience. With them, one can attain financial goals with the wide range of services and advises.…

Continue reading..What Is the Importance of Stock Market Broker in the Investment Journey?