money that went
The Ministry of Finance and the Central Bank of the Russian Federation consider it necessary to contain the rapid growth of consumer lending. The financial department, according to Deputy Minister Alexei Moiseev, supports the regulator’s proposals to tighten requirements for banks. Earlier in September, the Central Bank raised the interest rate from 8 to 8.25%, and a new increase may occur in November.
In turn, the Ministry of Economic Development believes that the increase in interest rates and the tightening the provision of funds to the economy by the monetary policy of the Central Bank significantly inhibits growth.
Since the beginning of the year, the portfolio of retail loans in the whole banking system in Russia has grown by 29.3%. At the same time, the annual growth rate was already 40%. And the volume of corporate loans increased by only 10.1%.
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The economic situation in Cyprus improved after the Eurogroup decided to provide Nicosia with financial assistance in the amount of ten billion euros. According to experts, the acute phase of the crisis in Cyprus has already been overcome.
As a result of lengthy negotiations, it was decided that deposits of more than 100 thousand euros covered by insurance in the EU will be fully retained, and for large – above 100 thousand euros – the tax will be 40%. Cyprus President Nikos Anastasiadis noted that he was satisfied with the agreement.
Now the Cypriot authorities are trying by all means to prevent the outflow of funds of investors. They will be allowed to withdraw no more than 300 euros per day to prevent the outflow of liquidity. At the same time, a number of prohibitive measures are being introduced, including the abolition of cashing checks and restrictions on the export of currency outside the country.
Citizens of Cyprus will also temporarily be unable to take out more than 1000 euros when traveling abroad. Customs officers will conduct checks at border crossings. Continue reading
1. Spend less than you get
If there is a key fundamental rule of financial management, then this is it: your expenses should be less than income. You MUST follow this rule, otherwise your whole future life is called into question. Get into debt and live on credit, because “everything will be fine”? So say the people who give you loans, and they really will be fine. And you? You have accumulated debts without making savings. To find financial prosperity with such an approach to life will help only a miracle. Do you believe in miracles?
2. Simplify your financial life
The more loans and credit cards, the greater the chance not to notice the loss of funds or to miss the next payment. The more deposits and accounts, the more difficult it is to keep track of them and the easier it is to not have time to react to emerging problems. The more complicated your financial life, the more time and energy it takes. Along with this, there is a growing chance to get confused and make a financial mistake. Continue reading