Finance Quotes

Money's Function as a Store of Value in Economic Systems
Money

Money’s Function as a Store of Value in Economic Systems

- by Michael Widianto

In any economic system, money plays a crucial role as a medium of exchange, unit of account, and store of value. While people often associate money with its role in facilitating transactions, its function as a store of value is equally significant. In this article, we will explore how money serves as a store of value in economic systems and its importance in maintaining economic stability.

1. Preserving Wealth

One of the primary functions of money as a store of value is its ability to preserve wealth over time. Money allows individuals and businesses to accumulate and save their earnings in a stable and secure form. This is especially important in uncertain economic times when other assets may be subject to volatility or depreciation.

By holding money, individuals can retain the purchasing power of their wealth until they decide to spend or invest it. This allows for financial stability and …

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Household Finance Loans
Household Finance

Household Finance Loans

- by Michael Widianto

Household finance loans can be a very useful tool for people who want to get a loan to buy a car or for other purposes. However, it is important to be aware of some of the risks associated with getting a loan. These include a number of misrepresentations regarding the terms of the loan, as well as the costs of prepayment penalties.

Settlement details

Household has reached a settlement with the states to address unfair lending practices in the subprime market. The settlement details include restitution to consumers, and limits on prepayment penalties. It will also establish new lending standards.

The settlement details are expected to be finalized soon. In the meantime, more than 35 states have agreed to participate in the settlement. However, the exact number of states that will join is still uncertain.

The settlement will be administered by the National Association of Attorneys General, which will oversee …

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Settlements for Household Finance Company Violations
Household Finance

Settlements for Household Finance Company Violations

- by Michael Widianto

Household finance companies are a great way to get a loan for a lot of different purposes. They are also good at ensuring that you will make your payments on time, and they have the ability to give you a lower rate of interest than you might be able to find at other lenders.

Settlement with FTC

If you’ve ever been contacted by a debt collector, you may be eligible to receive compensation through a settlement with the Federal Trade Commission for household finance company violations. These companies, including Vivint Smart Homes Inc, Avant Financial Services, Direct Lending Source, and Passport Automotive Group, have been accused of misleading consumers about their credit reports and charging unauthorized fees.

The FTC’s settlements with these companies total up to $700 million in relief, and all will be returned to injured consumers.

The Vivint Smart Home Settlement includes a monetary judgment and injunctive provisions …

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Lån Lav Rente (Low Interest Loans): How Lending Firms Set the Rates?
Lending

Lån Lav Rente (Low Interest Loans): How Lending Firms Set the Rates?

- by Michael Widianto

For a lot of individuals, the factors that control a banking establishment’s interest rate (IR) are a profound mystery. So how do banking institutions decide what IR to change? Why do banks charge different IRs to different clients? And why do banking institutions charge higher interest rates for some kinds of advancements, like credit card advancements, compared to housing and car loans?

Following is a set of discussions of concepts lending firms use to determine IRs. It is crucial to note that a lot of financial institutions charges fees and interest to raise income. Still, for the purpose of this discussion, we will take a closer look at the interest and assume that pricing principles remain the same if the institution also charges fees.

Loan-pricing and Cost Model

A simple loan pricing model assumes that the interest rate charged on loans includes components mentioned below:

Banks incur funding costs to …

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How to buy a car after retirement- Best tips in 2021
Financing

How to buy a car after retirement- Best tips in 2021

- by Michael Widianto

Vehicles! For certain, vehicles are a superficial point of interest, for other people, vehicles are the A to B transportation framework. For us all, vehicles are a necessary piece of living in a cutting edge society. A considerable lot of us settle on a vehicle buying choice like clockwork.

During our functioning years, we either set aside our pay and pay cash for a vehicle, or we acquire cash and utilize our pay to take care of the advance.

When resigned, and living off reserve funds, that purchasing choice changes.

Must check- Buy a new car with bad credit

What is the most ideal approach to purchase a vehicle in retirement?

Try not to get one!

One alternative would be to just not buy another vehicle. I hear this idea from customers incidentally, and I don’t know how plausible it is. Vehicles don’t keep going forever and not having an …

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