Browsing Category: "Financial Press Release"
Providers of CareOne Credit Counseling Services offer some helpful, timely advice on how to effectively spend the money from your Economic Stimulus checks. The article also provides a simple explanation for how the Stimulus Package is intended to help the U.S. economy.
Baltimore, MD () May 19, 2008 -- CareOne Providers Share Free Tips on Getting the Most Out of Economic Stimulus Checks
Economic stimulus checks rolled out in early May to US consumers. Providers of Services are offering free advice on spending and using that extra money, showing families and individuals how to get the most value and biggest benefits to them.
Many eligible US consumers have received, or will be receiving, economic stimulus checks from the government for amounts starting at $300. The concept of the economic stimulus checks is simple. Amidst the recent credit crunch, buying on credit has slowed down and less money is being exchanged in the marketplace. By giving money to consumers who will then spend it on various goods and services, the government hopes to increase the country's overall spending and consumption rates. Furthermore, because every dollar handed out by the government will be spent a countless number of times by various consumers, the effect of that one dollar is multiplied and has an even greater impact on economic growth.
For example, if a consumer receives a $1,000 economic stimulus check and spends it on clothing for the family, that $1,000 has now been introduced into the economy. In addition, these funds now represent new revenue for the retailer who sold the clothes. This cycle continues as portions of this money are spent on goods and services for the business itself. The store owner will also use a percentage of this $1,000 to pay his or her employees who, in turn, will spend a portion of their paycheck elsewhere, making further contributions to our economic growth.
CareOne Service providers want to help consumers better understand the economic stimulus package, enabling them to make more informed decisions on how to use their stimulus checks.
"Some consumers will receive their economic stimulus check and be tempted to go on a shopping spree," says CareOne Credit Counseling Services Spokesperson Clarky Davis. "Maybe they've wanted to buy a big screen television, make a down payment towards a new car, or even to take a vacation, but they didn't have the opportunity before receiving their stimulus check. On the surface, any spending would be good for the economy. Consumers should think about what's best for them. There are ways to use that extra money which could save or make them more money overall, help them get out of debt, or better prepare for their future."
CareOne Agencies offer the following ideas for using the funds from economic stimulus checks:
1. Use the money to or other interest-bearing debts. Paying more now means saving more in interest payments, which can accumulate quickly.
2. Place all, or a portion, of the money into an interest-earning account or tax-saving account. By setting aside funds in this way for things like a child's future education, retirement, a new car or home, consumers can earn extra money on the deposit and save on income-tax payments.
3. Consider setting aside a part of the check exclusively for emergency expenses. This allows to be avoided if a sudden need arises (such as car repairs).
"While politicians are hoping the economic stimulus package will improve the economy in the short run, consumers can use that money in whatever way benefits them the most, knowing they can still improve the economy in the long haul," says Davis. "By paying down credit cards or other bills, consumers keep that added interest payment amount in their own pockets to be spent later. By putting money into a retirement account, consumers are ensuring their ability to spend and bolster the economy in the future. By saving for a child's college education, that child has a better chance of securing a higher-paying job by getting their degree, leading to them spending more in the course of their lifetime. These 'little' choices now help the consumers in the moment and have the potential to help the economy on a grander scale."
About CareOne Credit Counseling Services:
CareOne Credit Counseling Services is a service mark of 3C Incorporated and is an industry leader committed to providing consumers with education and debt management services related to improving and maintaining their financial health. CareOne providers have helped over 4.5 million people pay down debts through their solid relationships with over 220,000 creditors. For more information about CareOne Credit Counseling Services, please visit , or contact Clarky Davis at (410) 925-9769.
Contact:
Clarky Davis
CareOne Credit Counseling Services
8930 Stanford Blvd.
Columbia, MD 21045
Phone: (410) 925-9769
Web:
The National Association for Credit Responsibility and Advocacy (NACRA) was founded in 2007 by Luis O. Rodriguez and is headquartered in Coral Springs, Fla. NACRA is a consumer-friendly association whose mission is to help consumers recover, rebuild, and then maintain their good credit and good name. As part of their "Credit and Financial-Direction and Protection" plan, NACRA provides benefits and services dedicated to accomplishing and realizing this goal. To learn more visit or call 954.340.5894.
Coral Springs, Fla. () May 19, 2008 -- Last year over two million people filed for personal bankruptcy, foreclosures jumped 75% to more than 2.2 million filings, and unemployment claims surged in the latest weeks to the highest level since September 2005. These adverse economic conditions coupled with a study conducted by the PIRG (Public Information Group), of Washington, D.C., which revealed that 79% of credit reports contained either serious errors or mistakes of some kind, are indicative of a consumer credit crisis.
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In tough economic times, people who are qualified to receive credit that will help stimulate the sluggish U.S. economy find themselves being denied loans, insurance, and employment opportunities because of being made available by credit reporting bureaus.
A new consumer advocacy organization, The National Association for Credit Responsibility and Advocacy , based in South Florida has been founded with the singular goal of helping consumers recover, rebuild, and then maintain their good credit and name by providing members with benefits and services in order to build a 'Credit and Financial-Direction and Protection' plan for them, moving forward.
"Consumer credit scores have taken on even more importance in a consumer culture and economy increasingly based on credit use," commented NACRA founder Luis O. Rodriguez. "By employing affiliated attorneys, experienced in consumer law to audit members credit reports, our members are provided with legal representation to the three major national credit bureaus as well as debt collectors and others in removing inaccurate and negative items from their credit reports."
"The difference of having an experienced consumer law attorney working for members through this process is invaluable and will make all the difference in their lives and their financial future, moving forward," pointed out Rodriguez.
This expert legal representation forNACRA members is just one powerful component of that distinguishes NACRA from credit recovery services. By offering Free ID theft protection and credit monitoring, Financial Education and Guidance, Tax Advice- Preparation and Audit, Legal Representation, and many more benefits and services bundled into their membership, NACRA ensures that the culmination is a financially healthier, stable, and educated consumer, ready and prepared to successfully re-join the credit economy.
"I understand how difficult, frustrating, and time consuming it can be dealing with the credit bureaus and I wanted to create a service people could turn to for guidance, assistance, and answers," said Rodriguez. "We are really excited about moving forward with our other consumer-minded services, such as I.D. Theft Protection and Credit Monitoring."
also has an of articles about credit scores, credit reports, identity theft and debt, among others. This resource is meant to answer important questions consumers have regarding their credit and will be available for use by non-members as well at .
More information about NACRA
The National Association for Credit Responsibility and Advocacy (NACRA) was founded in 2007 by Luis O. Rodriguez and is headquartered in Coral Springs, Fla. NACRA is a consumer-friendly association whose is to help consumers recover, rebuild, and then maintain their good credit and good name. As part of their "Credit and Financial-Direction and Protection" plan, NACRA provides benefits and services dedicated to accomplishing and realizing this goal. To learn more visit or call 954.340.5894.
Financial security and independence really does buy freedom for Brits according to a survey from Kaupthing Edge, the online retail financial services offering of Iceland's largest bank, Kaupthing and its UK subsidiary, Kaupthing Singer and Friedlander.
() May 18, 2008 -- Over 955,000 Britons would leave their partner if financially independent.
- Almost a third (29%) would leave their jobs if they had enough money.
- A nation on the move, (41%) of people would travel the world with financially security.
Financial security and independence really does buy freedom for Brits, according to a survey from , the online retail financial services offering of Iceland's largest bank, Kaupthing and its UK subsidiary, Kaupthing Singer and Friedlander.
Nearly a third of Britons state they are reliant on their partner or spouse for financial security (30%), but it seems that not all these relationships are based on love. Over 955,000 Brits would leave their partner if they were financially secure for life. Love appeared to falter in the older age group with 346,000 Brits saying they would leave their partner compared to only 135,000 of 18-34 year olds.
Britons are certainly a society on the move with (41%) of people saying they would travel the world and a further (29%) leaving their job if they had financial security. Nearly a third of men (28%) believe the grass is greener in another country and would move abroad compared to less than a fifth (18%) of women.
However our dreams of financial security are a far cry from reality. Of those Britons who do have money left over at the end of each month, (53%) do not maximise their savings and leave their money languishing in a low interest account rather than transferring to a .
Ashley Whittaker, Head of Retail Savings at Kaupthing Edge comments: "And while it doesn't really matter what people want to do with financial freedom it is crucial to take a closer look at your finances. Kaupthing Edge currently offers instant access to your savings at a competitive rate of 6.5% AER and rate guarantee of 0.3% above base rate until 2012."
The account is available in the UK at: Please see for Kaupthing Edge across Europe.
Key product details:
Instant Access Savings Account
- 6.5% AER
- Rate guaranteed to be min 0.3% above base rate until 1ST February 2012
- Min balance: £1,000
- Max balance: £1 million (across all accounts)
- No tie ins or charges
- 24-hour online access
Fixed Term Deposit Accounts
- 6 month term account: 6.8% AER
- 12 month term account: 6.86% AER
- 36 month term account: 6.70% AER
- 24-hour online access
- Min balance: £5,000
About Kaupthing Bank
Kaupthing Bank offers comprehensive commercial and investment banking services to individuals, companies and institutional investors. The Bank's key markets are Iceland, Denmark and the United Kingdom. The Bank focuses on the growth and development of its international activities and is a leading investment bank in northern Europe.
Kaupthing Bank operates in thirteen countries with its headquarters located in Reykjavík. The Bank's main subsidiaries are FIH Erhvervsbank in Denmark, Kaupthing Singer & Friedlander in the United Kingdom, Kaupthing Bank Sverige in Sweden, Kaupthing Bank Luxembourg, Kaupthing Bank Oyj in Finland, Norvestia Oyj in Finland, Kaupthing New York, Kaupthing Asset Management in Switzerland and Kaupthing Norge in Norway. The Bank also has activities in the United Arab Emirates (Dubai) and Qatar. Kaupthing Bank employs c. 3,000 at Kaupthing Bank and its subsidiaries.
About Kaupthing in the UK
Kaupthing Singer and Friedlander Limited offers integrated financial services to companies, institutional investors and individuals. These services include Corporate Banking, Investment Banking, Asset Management, Treasury, Asset Finance and comprehensive wealth management for Private Banking clients.
Kaupthing Edge is the trading name of Kaupthing Bank hf, Kaupthing Singer and Friedlander Limited's online retail financial services offering and has been launched to complement the Bank's existing portfolio of products and services across its geographic markets.
About the research:
The research was undertaken by Opinium Research LLP on behalf of Kaupthing Edge. Research was based on a survey of 2002 GB adults between 22nd and 25th January 2008. All information weighted to nationally representative criteria.
For further information about Kaupthing Edge Savings Product: please contact Lansons Communications
Billie Clarricoats
0044 207 294 3688 or 00 44 (0) 7970408411
Anna Schirmer:
00 44 207 294 3605 or 00 44 (0) 7765567842