Use Social Media To Improve Your Job Search
Use Social Media To Improve Your Job Search is an infographic that was produced by Gumtree

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The Legal Entity Identifier (LEI) is a global initiative that aims to create a global reference data system that can identify each individual legal entity or structure that is party to a financial transaction, whatever its jurisdiction.

As part of this initiative, there will be the formation of a Global LEI System, better known as GLEIS. The scheme has already been endorsed by the G20, and therefore has significant governmental force behind it; the key global financial powers seeing the movement as critical to improve and optimise the way companies handle debt, thus avoiding the financial crisis of recent times.

Such standardisation of the way that legal entities are identified across multiple countries should hugely improve the efficiency and effectiveness of regulatory bodies and organisations looking to measure and manage risk exposure across financial parties. It also has the added bonus of clearing up long term problems that governments and legal bodies have had in identifying entities across the world.

To handle matters on a more localised basis, Local Operating Units, or LOUs, have been created to assign and maintain LEIs to firms on a cost recovery basis. They will be sponsored by local regulators to carry out this work. Such is the time required to develop and form the GLEIS, official Pre-LOUs have been formed as an interim solution. These bodies will be able to allocate Pre-LEIs according to the agreed international standards on structure and data record requirements.

The Situation in the United Kingdom

In the UK, London Stock Exchange started to allocate Pre-LEI codes in 2013 via their hosted matching and reconciliation platform UnaVista offering:

-       Easy to use and flexible interface

Global Pre-LEI data is consolidated into one file, accessible via the UnaVista user interface. This also provides the ability to adapt, filter and extract the information within the tool.

-       Accurate and reliable database

 

With one consolidated database, the platform also ensures all Pre-LEI records are checked for duplication. Validation is then checked globally, so uniqueness and accuracy are ensured.

 

-       Experience

London Stock Exchange has over 20 years’ experience as the UK’s National Numbering Agency for ISINs and CFIs, and has long contributed to the development of international standards within the financial services throughout its history.

-       Functionality

UnaVista offers other advanced functions, including self-registration, complex filtering and searches, bulk and interactive dashboards.

Registration

Pre-LEIs can be obtained from London Stock Exchange for an initial cost of £100+VAT, with an annual maintenance cost of £55+VAT. Registration can be made via the Group’s website at http://www2.londonstockexchangegroup.com/register-for-lei

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Inflation is the Silent Killer of Money

by Justin on July 10, 2014

Inflation is the silent killer of money! People often have a false sense of security when it comes to their savings. They think that if they diligently put away a few dollars here and there into a savings account then they will be just fine later in life. The truth is, savings accounts offer very little interest and earnings on the money deposited. Often times the rates are below 1%, and even those can be promotional and temporary at times. Then you have the ability to put the money into CD’s, but the one’s that earn a decent rate of return require that you lock up your money for years to come. Withdrawing early usually comes with a stiff penalty that negates any interest you have earned. Rest assured there are ways to protect yourself from inflation, but some come with either increased risk, inconvenience, or both.

Opening an investment account is key to long term savings. My advice is to open an online account because they often hand out bonuses, and they have lower overhead costs which translate to lower fees for the consumer. Though opening a brick and mortar account is better than nothing. Next, I would make automatic payroll or savings account deductions so that a set amount of money is deposited into this account each month. The set it and forget savings method is a great way to invest without feeling the sting. These accounts will give you the ability to diversify within mutual funds, ETC, single stocks, or even binary options. If you aren’t familiar with these options then just do an internet search of binary options reviews for more answers. The key is to minimize your tax burden, fee structure, and to maximize your overall savings!

A less risky approach to protecting against inflation is to open an online bank account. These online banks are becoming more popular because they offer fee-free accounts, and offer higher rates of return on your money. These banks are able to do this because they have little overhead to contend with, and are able to pass the savings on to you. Their money market accounts and CD’s often blow the brick and mortar banks out of the water. Some people tend to get a little nervous socking their money away in these accounts, but they are just as safe as any other bank out there. With brokerages, banks, and mortgage companies venturing more and more into the virtual world these is just common practice today.

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We all know that when we look in our bank accounts during the week approaching pay day, it’s more than likely that a few moths will fly out. Let’s face it, nobody has a lot of money in the current economic climate of austerity, and for hard-working people, it’s commonplace to have no money left in the last week of the month. Despite this common phenomenon, it isn’t inevitable. There are a number of straightforward ways to generate some extra income to ensure that when the last week of the month comes around, you’ll have plenty of money left to enjoy yourself – or at least to help you get over the stress.

 

Invest Your Money To Make It Work for You

This is the first moneymaking point on this list for a single reason: that it’s high reward, high risk. Financial trading is not something to be taken lightly. It’s difficult to make profits because there’s such a high barrier to entry. Different forms of investment have different benefits, of course. If you want the safest form of investment (though by no means failsafe), you should purchase property. Of course, there’s a high entry point with this, as mortgages and deposits are not particularly affordable, despite the government’s Help to Buy scheme. Another form of investment that has a lower barrier to entry is currency investing – or foreign exchange, where the object of the game is to convert an amount of money in one currency to another, capitalizing on the exchange rate. ECN Traders who use this method can start from only $200 – but as with stocks and shares, the risks are high stakes.

 

Structure Your Bank Account(s) So It’s Clear Where You Stand (Financially)

It’s true that you can generate more funds through investing your money and making it work for you, but unfortunately, if you don’t have a well-organized bank account, you’ll be losing money without even knowing it. This is the financial equivalent to being captain of a pirate ship that has an assortment of heavy canons, but also has a severe leak in the hull. Ultimately, what you should be aiming for is a tidy bank account, with a single debit account and a single savings account. Ensure that all your direct debits enter and leave your accounts in the first couple of days of the month, and that if you own a credit card, you don’t forget to pay the bill – charges accrue quickly. 

 

Create a Side Business/Project

A side income is essential if you want to have money left over at the end of the month. A good way to do this is to take one of your passions – be it jewelry or crafts – and to monetize it by selling your items on an online store. Thanks to sites like Amazon, eBay and Etsy, anybody can become the next Alan Sugar, so if you have a little self-belief, you can make a decent side income.

 

Ultimately, if you follow some of the above tips, you could find that the week before payday isn’t so difficult after all. 

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