The Path To Finding Better Finances

Tips for Choosing a Reputable Forex Trading Broker

Most of the people are making their investment in the forex trading since it is the one of the best in the market today. It is imperative that you ensure that you are able to identify a reputable and trustworthy forex trading broker in the market since the competition is high. It is not simple to select the most reputable forex trading broker in the market since there are so many of them in the market. This should not be a problem since the following tips will be useful in helping you to get the best forex trading broker in the market.

It is imperative to make sure that you are considering the security. It is essential that you ensure that your invested cash will be secure so that you avoid losing your cash at the end of the day. So that you are certain that you are not dealing with the unscrupulous team it is essential that you check their credibility and their profession. Moreover, you have to make sure that they are registered to the right regulatory authority as this will ensure you that you are dealing with the best team in the forex trading. It is essential to put into consideration the transaction cost. It is essential that you ensure that you get to know there are so many forex trading brokers in the market and you have to make sure that you are able to identify the one that is offering the services at cheapest rates.

You should be able to get the withdrawals and deposits so easily. The best dealer should enable you to make your deposits and withdrawals easily and faster and that is the one that you need to consider making business with. You should be able to get the profits that you have earned smoothly without experiencing any challenges. You should make sure that you are looking at the forex trading platform. The platform should be user-friendly so that you can be able to operate it and access the services that you are in need.

You should make sure that you are able to look at the services that are offered to the customers. It is essential to consider the broker that has the best service to all its customers and you can know from the reviews of the clients online. You should ensure that you are incorporating a forex trading broker that you can easily approach and you can check the performance. The forex broker should be willing to provide you with the assistance whenever you need their services. Therefore, due to increased number of forex trading brokers in the market make sure that you are able to find the one that is reputable and trustworthy.

The Security Intelligence in The Financial Services

Security intelligence is the data related to safeguarding an organization from any outside and inside threats along with the processes, and policies developed to accumulate and evaluate the information.

It can also be referred to as the actual collection, standardization, and analysis of the data created by users, applications, and structures that influence the IT security and risk position of a business.

On a daily basis, information flows in organizations for the senior management to make smart decisions. The various stakeholders (employees, customers, contractors) are interfaced through various technologies.

However, the technological infrastructure can also result in serious security issues. The probable areas of intrusion are unlimited. Security experts and business leaders are trying to find an answer to the question – Is it feasible to have a robust security in an increasingly interfaced environment?

Though the answer is yes, it needs a radical transformation in processes and practices encompassing the financial services sector. The focus is not only on IT. Robust security facilitates a positive customer experience.

Cybercrime and Profitability

Financial institutions are at great risk since they are perceived to be an easy target for cybercriminals. According to a survey by IBM, “Financial markets, insurance, computer and professional services together account for over 40% of all security incidents worldwide.”

The losses, pertaining to cybercrime in other sectors could be due to industrial intelligence and fraud related to intellectual property, but in banking, online fraud is a possibility.

Any fraud related to the intellectual property and industrial intelligence could lead to reduced shareholder value, shut down of the business and net financial losses. These are the issues impacting the global financial sector, not only because the main reasons are not identified or the disruption to the customer is immediate, but also because they can result in a significant loss of money.

As per Andrew Haldane, Financial Stability Director at the Bank of England, “Cyber-risk has become a more pressing concern than economic depression and the Eurozone crisis, as it is a rapidly rising area of risk with potentially systemic implications”.

Comprehending the seriousness of the security risk is only a beginning. Financial institutions must establish an in-depth security intelligence strategy that would enable the financial institutions to have an insight into the perceived threats.

Financial institutions leverage top-notch analytics to get an understanding of:

  • The types of attacks that are occurring.
  • The probable source of the attacks.
  • The technology used by the cyber criminals.
  • Weak spots that could be exploited in the future.

Michael Davison, Banking and Financial Markets, IBM, stated,” There’s not another single issue that unites the interests of so many people at senior levels of banks. It unites technology, the CFO, security and compliance functions. But cybersecurity is also mission critical for people running lines of business and who are running P&Ls. So quite rightly it sits on the Board agenda. But there’s still work to do to educate Boards about the urgency of an effective response to the rapidly changing environment.”

Financial institutions must implement the following practices to get the balance between the required innovation and the related risk:

Establish a risk-conscious culture

  • An organizational transformation with an emphasis on zero tolerance towards a security failure must be established.
  • An initiative encompassing the organizational hierarchy to execute smart analytics and automated response competencies is needed to identify and resolve issues.

Safeguard the Working Environment

The functions in distinct devices must be examined by a centralized authority and the wide array of information in an institution must be categorized, tagged with its risk profile and circulated to the concerned personnel.

Security Design

The greatest problem with the IT systems and the unnecessary costs is from executing services initially and looking at security afterwards. Security has to be a part of the application from the first phase of design.

Ensure A Safe Environment

If the system is secure, security personnel can monitor every program that’s functioning; ensure it is ongoing and operating at optimal level.

Manage the Network

Organizations that route approved data through controlled entry points will be in a better position to identify and separate the malware.

Cloud Based Security

To prosper in a cloud scenario, organizations should possess the technology to operate in a secluded environment and track probable issues.

Involve Vendors

An organization’s security strategy must also involve its vendors and efforts must be made to establish the best practices among the vendors.

Financial firms have been a major target for malware attacks. Several aspects are impacting the financial sector. The direct connection between the breach of several personally identifiable information (PII) to the profitability has not been lost on the global financial stakeholders. This has led to the implementation of several global security projects.

A hazardous type of malware for online financial transactions is “Man-in-the-Browser” intrusions. It happens when a malicious program affects an internet browser. The program adjusts activities conducted by the user and in some instances, can initiate actions independently. It could lead to online stealing.

Financial institutions that can transform radically at a fundamental level, the way they function would be safeguarded.

The aim of enterprise security could initially emphasis on IT structures, it must be extended from the technology personnel & their systems to each individual within the organization, and all the stakeholders conducting business with it.

Financial firms must comprehend the data that they have, which must be made available to the system, where they can compare and develop a real understanding of the actual threats and contingencies that may compromise the business.

The Financial Business Model: 5 Keys to Long-Term Success

Why do so many businesses fail to make profits and achieve their financial goals? The answer is simple because many business owners simply ignore one or more of the 5 keys to financial success. Many businesses are making sales but are not profitable. Learn how to fortify your business model and set your company up for success. Developing a financial business model provides a clear picture of your company’s financial history as well as your company’s financial future. Working from a financial business model will help to prepare your company to make better decisions for the company in the future. And analyzing your finances on a regular basis will provide you with the financial success you are seeking to achieve. Get ready to gain more flexibility and financial freedom in your company with the keys to success.

Key #1) Don’t Go It Alone
Mismanagement of finances is not reserved for start-up companies but for all businesses. Many business owners are able to produce and sell their products and services but are not able to manage their finances. If you are not able to determine where you have been you will not know where you are going. Accountants and bookkeepers are able to assist your company with establishing a financial foundation and making predictions surrounding your financial future.

Key #2) Review Historical Data
By developing a financial history of your company’s finances provides you with valuable lessons for the present that will guide you into a more profitable future. Reviewing financial history helps you to know what to do and what not to do in your business. Compiling historical financial data can help your bookkeeper or accountant to assess the reasons for your success or failure.

Key #3) Project Sales and Costs
Once you have completed the second key it will set you on the trajectory to be able to project the sales and costs. Projecting sales and costs without historical data can be challenging but not impossible. Projections for your company are not a process that begins at the start-up phase, it is an on-going process to help determine areas of growth and change. Costs are always easier to project than sales. However, sales should not be your main focus but rather on the company being profitable!

Key #4) Develop Financial Statements
Financial statements are the framework for the accounting cycle. In other words, the income statement, the balance sheet, and the statement of cash flows provide a picture of how well your company is doing financially. Financial statements structure all financial data in a manner that is easy to understand and should be prepared with accuracy. These statements assist you with assessing financial performance and determining key business decisions.

Key #5) Assess and Implementation of Changes
This is the final piece in the financial business model. Once all of the first four keys have been established you will be able to assess your company’s financial position and implement changes where it is necessary to ensure financial growth and success. Tying it all together the financial statements will reflect your company’s historic information and decisions can be made about the future from that data.

The financial business model provides clear information to assist you in making sound financial decisions that can promote long-term success. Applying these five keys to your business will set your company on the path to achieving your goals and turning profits!

JC Andrews has over 17 years experience in bookkeeping. She specializes in bookkeeping for small businesses and start-up’s and published a free report for small business owners. You can learn more about her services and get your copy of the free report at The Ledger Virtual Bookkeeping Company,

Best Tips to Avoid Squandering Your Inheritance

When you receive an inheritance, it is important to figure out what will you do with that money. If you do not plan properly on how to spend that money, it will slip out of your hand within no time. If you have already got the cash, or you are about to inherit the money, here are some five tips for using it properly.

Don’t Rush Your Decision

People generally do not allow the money for a cooling-off period, after receiving the cash. This is one of the worst mistakes that people usually do. They are always in a hurry of spending the money without thinking twice. You can save the money either in a money market account or savings for at least two months in order to plan your options. You can also put the money into a short-term deposit for saving it, because you have to pay penalty if you withdraw it before time.

Assess Where You Are

If you analyse your present financial situation, you can get an idea about your future move. You can plan to start a college fund for your children, add the money to your retirement savings or keep it as an emergency fund. Make a goal in life, so that you can achieve it with the help of your inheritance.

Be Realistic About Your Inheritance

A sudden chunk of money will you lead to towards a changed lifestyle. The things like a new car or a luxury vacation that you could not afford before will now seem to be very tempting. You have to be careful to control your temptation and save your money for future needs.

Establish Boundaries

It is evident that when you receive an inheritance, many people come with a try to have a share in the money. Bank or financial sales people may call you so that you invest your money in their products. You may also be asked to make a huge donation by any charitable organisation. So, it is very important to set boundaries and prepare yourself for saying no to the people.

Be Proactive

You may need some professional help to figure out how to save your inheritance. It is absolutely fine to hire a financial advisor, but do not make your decision solely as per his guidance. In the end, it will be you who will take the final decision. Do some research and set your goals before taking professional’s help.

Thus, though an inheritance is like a blessing to you, but along with it comes responsibility. Plan properly to make sure that your money lasts for a longer time.

The Future of Financial Services

The ease of making financial transactions and financial services in general, had first been revolutionised when telegraph companies introduced wire transfers. But with the coming of new age financial services like Bitcoin and Ripple, it is the time we address the question of what the future holds for the financial services of the world.

Traditional Wire Transfers

Let us begin by first taking a look at how things have been going on for these past 150 years since wire transfers were first introduced. Transferring funds using a wire transfer method via a bank is not a single step process but a multi-step process. It is like this:

    • The sender approaches his or her bank and orders the transfer of funds to an account. Unique codes like BIC and IBAN codes are provided to the bank by the sender so that the bank knows exactly where the funds need to be transferred.
    • The sender’s bank contacts the receiver’s bank by sending a message through a security system, such as Fedwire or SWIFT, signalling it that a transfer needs to be made. The receiver’s bank receives this message, which includes settlement instructions as well, and then asks the sender’s bank to transfer the amount specified in the message.
    • The sender’s bank now transfers the amount. This is not done in one go but bit by bit, so it can take anywhere from a few hours to a couple of days for the entire sum to be transferred.
  • To make the transfer, the two banks must have a reciprocal account with one another. If that is not the case, the transfer is made through a correspondent bank that holds such an account.

As one can see, this form of transfer relies overly on a mediator, takes more time than it should, and can prove to be costly as the banks charge some fee for their service. Distributed currencies like Bitcoin provide a viable alternative to this process.

Decentralized Currencies

What sets services like Bitcoin apart from traditional services is that they do not rely on a central mediator but rather operate using cryptographic protocols. The process is therefore faster, simpler, and much more efficient. The system is quite transparent to both end users as well while traditional systems are susceptible to fraud due to the complex process involved.

However, there is a downside to this too. With services like Bitcoin, it is simple to trace a transaction back to each unit value’s creation.

Solution? A Common Ground

More and more people are opting for services like Bitcoin and peer-to-peer mobile transfers, where a network operator could help users transfer funds by simply sending an SMS. Although these are indeed more efficient, they are a long way from global acceptance because there are many who still do not have bank accounts, plus there is the issue of limited user identification in such services.

What would be ideal for everyone is if banks could tap into the potential of decentralized currencies and overlap the source code of services like Ripple on their existing system to form a hybrid of the two. It would kill two birds with one stone as:

    1. Decentralized currency systems provide more efficient transfers
  1. Bank systems ensure only registered users access the service, taking away the possibility of foul play.

Conclusion

The world has come a long way since the last time an indigenous financial service system was introduced. There is definitely a crying need to improve this traditional service and decentralized currencies like Bitcoin have shown them the way.

Handle Your Finances With Care

It takes years to gather a handsome amount of money, and if it is not handled properly, your most prized possession would soon escape from your hands like sand. This is the reason why people go for financial planning. It gives you a great sense of satisfaction when you know that your money is in safe hands and is being handled with utmost care.

However, not many people are aware of the process involved in financial planning. Based on your financial position, it is very important to go ahead with personal planning because if you don’t start planning well in advance, then you might face several challenges in the future.

Financial advisors suggest all individuals follow these six basic key principles for financial planning.

• Analyse your current financial status: To be able to plan for future you should first be very confident about your current financial position. Make a checklist of all the assets and liabilities and your income and expenditure. Having this information at hand, you would be in a clear position to understand how you can achieve your financial goals. Your total financial worth would help you to determine the ways to accomplish your set goals, which include paying for your children’s education, buying a new property or being ready for any financial emergency like the loss of a job.

• Chalk out your financial goals: In order to accumulate wealth, a lot of planning has to be done in order to achieve the desired goals. Setting goals would give you an urge to go ahead to achieve it. Your list of financial goals should be very specific, which would show that they are crystal clear in your mind.

• Plan for alternatives: You cannot expect your planning to go as per your wish, so you should always have a plan B at hand. After listing down your goals you plan for alternatives as well.

• Analyse the alternative options: You should ponder upon the feasibility of the alternative ways taking into account your social, personal and economic condition at present. The liquidity of your assets also matters in this regard.

• Creation and execution of your financial plan of action: Once you have planned about your alternative options and have analysed its feasibility, it is time for you to put these plans into action.

• Review your plan: Since financial planning is very dynamic process it is subject to change at any moment. So, it is always advisable to keep reviewing your plans every now and then.

Thus, in order to achieve your financial goals successfully, these basic points should be kept in mind for better handling of your finances.

Money and God’s Plan

The world depends on money for everything important to the preservation of life. That is how man has made it, but it was not always that way. Not until the arrival of kings and their greed for wealth did things change. No longer could one live simply once society demanded payment so that the god-on-earth could live like a god in heaven. Only now can we even talk about it because not so long ago that would have been classified as treason.

After my reincarnation and with a special view of the world taken from the perspective that everyone who has lived is now back, as promised in the bible (Job 5:19-22, Isaiah 26:19), my observations took me back to figure it out. What has money got to do with the plan of God? That was the question and it was not an easy one to answer.

If everyone has returned from the dead is it not logical that some are now black who were once white, while some are rich who were previously poor. What if some are now women who were previously men, as in my case. Wouldn’t this be a way of punishing those who have treated others badly in a previous life? Wouldn’t it be justified if one was abused by a woman-hater and is now a woman who is punished by a man?

No one knows the answers to these questions and speculation doesn’t fill in the blanks but there is a lot afoot now that seems to head in this direction. In the Old Testament prophecies, the Spirit promised that the world will end at this time. How do we know this? In Micah 4:1 it is promised that at the end of days there will be a mountain so high that everyone will go to it.

That mountain is the Internet and in Jeremiah 25:31,33 it states that God will use this mountain to speak to the world. The great movement in technology that has allowed all people everywhere to hear the same things and to be connected to the one voice has happened. While money has been the instigator for invention and better communication it is God’s voice that is speaking through it.

The zillions of pages on the web reveals the truth. Everything discovered is on it and all that we have done in the past is now paraded there like a massive museum. God has used money to bring it about and is now using greed, a product of money, to bring about the end of the day. The huge spike in population can be read as proof that everyone is back and listening to the truth, which is why religions are failing.

Money and Wealth in the Last Days

When I was growing up now many years ago there were no millionaires in our Australian society. Everyone was struggling to make their pay packet stretch from week to week as their children grew and were taught to respect the environment and the things we had. Recycling was part of it and my grandmother, who had gone through the 1930’s depression, would save every piece of string and paper bag that came her way.

These habits passed down to me and my siblings. We were taught to switch off lights that were not in use, to make our own clothes, do our own repairs, and most of all enjoy what we had and not go after things out of our reach. We learned to be practical and that things like vegetables are better when grown in your own garden than purchased in a shop.

Between the 1960’s and 1970’s a revolution took place. We were not really aware of it for some time but the effect on life and the economy was profound. Suddenly people learned how they could make money aside from working for it. It’s called investing in the future. Real Estate became the key to ownership and words like ‘portfolios’ entered the vocabulary.

Australia still ploughed on sifting through the shock to our ego that this country was not seen as ‘great’ by others. We became conscious of it and asked strangers from overseas what they thought of us. While they mostly had nothing but praise there were things they pointed out that hung like an albatross around our necks.

We were simply behind the times. Late night shopping had not yet arrived, and week-end trading was beyond our comprehension. There was still many things we were not privileged to know as the government kept the lid on things. But when I travelled overseas in 1979 I caught a glimpse of what was coming.

Tiny houses that matched the garage in most Australian homes was all that many had to live in around Naples and they farmed on the land around it that was no bigger than a normal size suburban block back home. In the North in places like Cannes and Monte Carlo homes were suddenly huge and people were rich beyond measure.

The beautiful wine fields in Tuscany and the snobbery of many who looked down on this traveller with her 2 children was very off-putting. Australia was a country when snobbery and wealth brought you no friends while the more money you had the less you were liked. Now it is just the opposite.

Since the turn of the Century and the Olympic Games in Sydney the country has become like those I travelled in overseas. It wealth, money, and celebrity status that now directs one’s popularity as we are in the last days. This is known to me because of my memory of reincarnation and knowledge that everyone is back who has lived before. We are facing the ultimate test and not many are in a position to pass it.

Money and the Spirit of the Universe

Many give God the name The Universe and that is pretty close to my knowledge of it. Experience of reincarnation and with a link to the Spirit it appears to me that it is in everything and everywhere and that it controls the money side of humanity. It would, therefore, be using money to create greed, to devastate the environment, to deplete resources, and to pollute the atmosphere. It has also used it as a commodity that mankind cannot do without. So why do we have it?

With my limited knowledge and as a result of my research it appears that money is a tool used by the Spirit to bring about the disasters that have beset the world. They include the weapons used to kill us. It is also the reason for the depletion of resources that is destroying the environment, polluting the atmosphere, and causing an extinction of species.

Animals survive happily without any to these things and perhaps that is the yardstick by which we should measure how money and the Spirit of the Universe are working against us. Money is an invention and like all other inventions it was meant to make life easier, but for whom?

Governments are dependent on money for their survival. They use it to build a country’s wealth and provide services. Those same benefits help to increase the population and improve health to the point where the great explosion is now more than the earth can cope with, or so it seems.

The evidence is in the way human behaviour changes. With the increase in numbers human life becomes less valuable. Fights break out more readily and wars are inevitable. As the resources dwindle, thanks to an over-consumption of them, countries that once drew large incomes from them are failing. An example of that is Venezuela which is now bankrupt.

Climate change and global warming are the consequences of this ‘better life’ that money provides and suddenly it seems that we don’t have the answers after all.

The question becomes ‘why has God allowed money to destroy the world?’ The answer is obvious when one considers how little thought many give to what they are doing when they over-fish the oceans, turn soil into salt by over production of food, and burn fossil fuels to the extent whereby the atmosphere is now poisoning us.

Surely these things were meant to be as one reads about them in the Old Testament prophecies. The thing that many can’t get their head around, however, is why is it happening in our lifetime? The answer might lie in what is happening in the world of finance.

Money and the World Order

The systems that run the world are all based on money and exchange of goods for a benefit. This is easy to see when one goes to a shop and purchases goods and pays for them with the method of exchange in that area. It is not so easy to see, however, when one pays for something and the return is invisible. That happens in religion, for instance, whereby promises are made that after-death one will receive the entitlement.

It is at that point that magic enters the equation and in today’s world more things are based on promises than on reality. Arguments persuading one to part with their money are now covered by tertiary studies and economic degrees. The goal is making money circulate and that can be at any cost to either an individual or society in general.

What does one achieve when paying for a ride on a Merry-go-round at a local Fair? Or when taking a plunge over a cliff in a Bungy type experience? The only thing returned is a small rush of adrenalin that becomes addictive and makes the partaker want more of the same. These things are, however, counted as business enterprises and they are incorporated in the World Order.

Anything that gives a moments pleasure, or adds a little to the entertainment of the brain is good business. People will often pay more, therefore, for these things than for food for their body. Drugs, alcohol, and gambling are high on this list and they are all supported as they take money from pockets and savings and spin it out through the community.

The bottom line is the World Order is constructed on money and unless it flows throughout the communities it becomes stagnant and the structure it supports will fail. Governments are forever vigilant and they must ensure that their policies focus on helping the business sector over those that would stagnate the economy.

In countries where this is not the case the state can fail and this is happening now in some areas where the business sector is at a standstill or almost so. Recent examples include Venezuela, where the economy is almost non-existent and now Rio, the city that will soon host the Olympics Games, that has declared itself bankrupt.

It is obvious that many countries are fighting to stave off similar collapses as the World Order is rocked by an uncertain economic outlook. World-wide jittery nerves are watching with interest as the value in shares topple and financial systems struggle to overcome over-value in their currency and over-spending on things that may not save them, such as defense and wars.