Forex Tutorial: What is Forex Trading?

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What Is Forex?
The foreign exchange market is the "place" where currencies are traded. Currencies are important to most people around the world, whether they realize it or not, because currencies need to be exchanged in order to conduct foreign trade and business. If you are living in the U.S. and want to buy cheese from France, either you or the company that you buy the cheese from has to pay the French for the cheese in euros (EUR). This means that the U.S. importer would have to exchange the equivalent value of U.S. dollars (USD) into euros. The same goes for traveling. A French tourist in Egypt can't pay in euros to see the pyramids because it's not the locally accepted currency. As such, the tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate.

The need to exchange currencies is the primary reason why the forex market is the largest, most liquid financial market in the world. It dwarfs other markets in size, even the stock market, with an average traded value of around U.S. $2,000 billion per day. (The total volume changes all the time, but as of August 2012, the Bank for International Settlements (BIS) reported that the forex market traded in excess of U.S. $4.9 trillion per day.)

One unique aspect of this international market is that there is no central marketplace for foreign exchange. Rather, currency trading is conducted electronically over-the-counter (OTC), which means that all transactions occur via computer networks between traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney - across almost every time zone. This means that when the trading day in the U.S. ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be extremely active any time of the day, with price quotes changing constantly.

Spot Market and the Forwards and Futures Markets
There are actually three ways that institutions, corporations and individuals trade forex: the spot market, the forwards market and the futures market. The forex trading in the spot market always has been the largest market because it is the "underlying" real asset that the forwards and futures markets are based on. In the past, the futures market was the most popular venue for traders because it was available to individual investors for a longer period of time. However, with the advent of electronic trading, the spot market has witnessed a huge surge in activity and now surpasses the futures market as the preferred trading market for individual investors and speculators. When people refer to the forex market, they usually are referring to the spot market. The forwards and futures markets tend to be more popular with companies that need to hedge their foreign exchange risks out to a specific date in the future.

What is the spot market?
More specifically, the spot market is where currencies are bought and sold according to the current price. That price, determined by supply and demand, is a reflection of many things, including current interest rates, economic performance, sentiment towards ongoing political situations (both locally and internationally), as well as the perception of the future performance of one currency against another. When a deal is finalized, this is known as a "spot deal". It is a bilateral transaction by which one party delivers an agreed-upon currency amount to the counter party and receives a specified amount of another currency at the agreed-upon exchange rate value. After a position is closed, the settlement is in cash. Although the spot market is commonly known as one that deals with transactions in the present (rather than the future), these trades actually take two days for settlement.

What are the forwards and futures markets?
Unlike the spot market, the forwards and futures markets do not trade actual currencies. Instead they deal in contracts that represent claims to a certain currency type, a specific price per unit and a future date for settlement.

In the forwards market, contracts are bought and sold OTC between two parties, who determine the terms of the agreement between themselves.

In the futures market, futures contracts are bought and sold based upon a standard size and settlement date on public commodities markets, such as the Chicago Mercantile Exchange. In the U.S., the National Futures Association regulates the futures market. Futures contracts have specific details, including the number of units being traded, delivery and settlement dates, and minimum price increments that cannot be customized. The exchange acts as a counterpart to the trader, providing clearance and settlement.

Both types of contracts are binding and are typically settled for cash for the exchange in question upon expiry, although contracts can also be bought and sold before they expire. The forwards and futures markets can offer protection against risk when trading currencies. Usually, big international corporations use these markets in order to hedge against future exchange rate fluctuations, but speculators take part in these markets as well. (For a more in-depth introduction to futures, see Futures Fundamentals.)

Note that you'll see the terms: FX, forex, foreign-exchange market and currency market. These terms are synonymous and all refer to the forex market.

The Shocking Truth About How Web Graphics Affect Conversions

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Does this situation feel familiar? —

Your web designer reckons your site is outdated. It makes you look amateurish. If we’re being honest, we might even say it’s downright ugly and you should be ashamed of attaching it to your brand.

The solution?

A redesign, of course. Not just a few tweaks, mind you, but a reinvention, taking your tired old website and bringing it into the modern day.

It’ll have snazzy vector paths, cute cartoon scenes, jQuery carousels, full-page high-resolution background photos, the works. By the time you’re done, you’ll have a breathtaking design that cost you a fortune to create—but you shouldn’t hesitate, because it’ll be worth it.

Why?

Well, check out the reasons!

1. Sites with images look good, and people enjoy eye-candy, so they’re more likely to browse around

2. Images are attention-grabbing, so new visitors won’t hit the back button

3. An eye-catching site impresses prospects, and impressed prospects are more likely to buy

4. Flashy images show that you’re hip and modern, and people trust hip and modern companies—so you get more sales

5. In summary, for every bit of eye-candy on your site, your sales will increase an average of 16.5%*
Wrong, wrong, wrong!

Many years ago, advertising legend David Ogilvy commissioned research into the use of images. He wanted to be sure that when he wrote ads, the images in them would increase response rates. The prevailing wisdom was that any kind of image would attract attention, and therefore get people reading. But Ogilvy wasn’t so sure.

What he discovered from testing various kinds and placements of images was quite different to the popular opinion of designers—then and now:

Images can reduce readership.

Yes, they catch people’s attention. But without some very specific conditions in place, that attention does not translate into people reading the body copy—or coughing up cash.

You might be wondering why you should care about research done in offline advertising. Well, Ogilvy’s ads were specifically structured to look like news articles. They bear an uncanny resemblance to most forms of online content. And the best practices he discovered for images revolve around broad psychological principles, rather than medium-specific tactics. So they apply to all kinds of content—not just advertising copy.
What Ogilvy Discovered

Here are four principles Ogilvy’s research turned up. If you ignore these principles, your images will generally reduce your readership. If you apply these principles, your images will increase your readership.

Of course, they are just best practices—a sensible place to start. The only way to know for sure how they will work for you is by testing.
 
1. Placement matters—a lot

The natural sequence for reading involves a very specific order. First we look at the image, if there is one. Then we scan the headline. Then we read the body copy (if the headline is interesting enough).

An image at the top of the page is a common practice, to catch people’s attention and draw them into the article. But if you’re doing this, you’d better be sure it’s above your headline.

tried-and-true layout—situated below the image

This site’s headline isn’t much to speak of, but at least it follows the tried-and-true layout—situated below the image, where it will get read.

Ogilvy found that, on average, headlines placed below an image are read by 10% more people than headlines above. Since reading the headline is a prerequisite of reading the body copy, you’re losing a potential 10% of your audience if you’re distracting them with an image in the wrong place. If you have a large audience—say 145,000 people—then putting your image below your headline could be costing you nearly fifteen thousand potential readers! As Ogilvy sardonically said, that’s not to be sneezed at.
 
2. Captions get read more than body copy—four times more

An image placed somewhere in the middle of text draws the reader’s attention more than the text itself. It might even draw him out of the copy (see the next point). For that reason, it’s extremely important to have a caption under every image—to press your main point home, and hopefully to get him back into the copy.

Captions under images are read on average 300% more than the body copy itself, so not using them, or not using them correctly, means missing out on an opportunity to engage a huge number of potential readers. (For images above a headline, the headline itself can serve as a caption.)

Captions under images are read on average 300% more than the body copy

Newspapers have long understood the value of captions for drawing readers in. Yet this knowledge doesn’t seem to have filtered down to web designers and marketers.

In copy that aims to sell something, your caption should include your brand name and your promise. That way, you have another chance to get your reader interested and to push him back into the copy—or even directly to the call to action. You have to make the most of his brief attention.

For other kinds of content, figure out the central purpose of the page itself, and encapsulate that in your caption. It is wise to craft your captions as you would craft your headlines—because they are similar lengths, with similar purposes.

3. Don’t break the left margin

When we read, we rely on the left margin always being there as an anchor, to give us a place to return our eyes to. Without a consistent left margin it’s exceptionally difficult to follow the text. (The reverse is true for text read right-to-left.)

That’s why body copy is never justified to the center or right in the Western world: if the location of the left margin changes, we have to relocate it before we can continue reading. Our eyepath is interrupted, along with our train of thought.

Yet you’ll see an awful lot of websites that scatter left-aligned images throughout body copy. If you have a particularly clever designer, copy might even flow around images in an arty way.

This forces the left margin of the copy to change location—breaking your reader’s flow and forcing him to readjust. Far from helping to keep his attention, such techniques threaten to lose it.

breaking the left margin on a blog

“Oops”. I couldn’t resist a gentle poke at Unbounce, who break the left margin here on their blog.

For images placed inline with text, always be sure to align them on the right margin. Never break the left margin.

4. Images without clear relevance are a waste of space

If the images you’re using are not clearly tied to your value proposition, or to the central theme of your page, then they will only confuse your readers. At best, they’ll be pointless distractions. At worst, they’ll give the wrong impression and lead readers to feel tricked or disappointed.

It’s actually pretty easy to avoid irrelevant images just by using captions. If you can’t come up with a good caption for an image, it’s probably because the image has no place on the page.

The best kinds of images fall into just two categories:

1. Images with story appeal

2. Images which demonstrate

An image with story appeal is best for putting above your headline. It evokes a strong sense of curiosity in your reader. He wants to know what’s going on in it—so he reads your copy to find out.

homepage image with some serious story appeal

Although brewshop.co.nz doesn’t do everything right, its homepage image has some serious story appeal.

But these kinds of images are not very easy to come up with. Most of the images I see at the beginning of web pages are obviously taken straight from some stock photography site, and have at best a tenuous connection to the content on their pages. Not only do they have little story appeal, but when I see them, I immediately suspect the story they’re telling is not the same as the story in the copy.

An image which demonstrates is exactly as it sounds. It demonstrates something you’ve said in the copy.

It’s hard to go wrong with this sort of image—the only caveat is that it needs to convey your value proposition or central theme with more force than copy alone could. Product photos, before-and-after shots, charts or graphs showing comparisons and so on all fit the bill nicely. And the higher quality the better—if it needs to be downsized to fit into a fairly narrow column of text (and it probably will), then make it clickable, so readers can see a larger version in a lightbox.

Images that turn readers off

Here are some kinds of images to avoid like the plague. They will distract your readers with their visual dominance, without the benefit of interesting your readers with their content. And very often they will convey the impression that you are incompetent, thoughtless about your page content, or just unable to come up with anything of real quality.

    Stock photographs that are obviously stock photographs—their generic dullness and lack of imagination rubs off on you. Just because a stock photo is attractive doesn’t mean it will be effective.
    Poor quality images of any kind—better to not show anything than to show something pixelated, over-compressed, badly resized, of a low resolution, or otherwise shoddy-looking.
    Crowd shots. Try to use photos that have a single main subject—people find crowd shots boring because there’s no one to focus on.
    Bigger than life-size images of faces. According to Ogilvy, readers avoid them because they seem slightly grotesque.
    Historical subjects—unless you’re catering to an audience of history enthusiasts, it’s a safe bet your readers will find historical shots boring.


This website is a study in images done wrong: there is a stock photo top center depicting a model we all know doesn’t work for Datacom—and to add insult to injury, it has been distorted from resizing. The images in the columns beneath have relevance only in the sense that they were forced into context without being needed—they convey no value whatsoever since they demonstrate nothing.

Every image must be worth its page weight in gold

Lastly, while you’re mulling over whatever fancy graphic your web designer wants to sex your page up with, mull over this: page load times are still the number one criterion for maximizing readership. For example, a few months back Google discovered that a loading time increase from 0.4 seconds to 0.9 seconds decreased traffic by 20%. In fact, we created a handy infographic showing how more and more readers abandon a page as load time increases. Needless to say, images increase page load time.

So take a look at your latest graphically-endowed content. Is that extra weight really helping? Is each image demonstrating your value proposition forcibly, or teasing your reader into your copy with story appeal? Is it positioned correctly and captioned enticingly? Is it worth its weight in gold? If you’re not sure, it’s time to start testing, measuring—and perhaps culling.

* Figures are entirely made up for effect. Designers don’t really go this far…but I’m sure some of them want to.

The Age of Excellence

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Age of Excellence is one of Sydney’s premier landscaping and horticultural teams, with a great passion for creating beautiful, modern, outdoor landscapes.

Our team sees every job as a privilege, and our mission is to lead people into a love affair with their gardens.

Wherever we’re asked to begin, we have one purpose:
to create quality surroundings that nurture and inspire.

New gardens are like people: they are singular and unique. For us, every project is a new beginning. No templates, no recycling of previous designs. Our experienced team of designers, horticulturalists, and project managers will work to understand what a beautiful garden means to you.

Installation is an earthy, practical process where plans become reality. We quote carefully, execute on time, and work with the highest quality materials and craftspeople. Focused attention and thorough professionalism render a finished garden for you to enjoy your own, personal outdoor space.

Five Grammatical Errors That Make You Look Dumb

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One thing blogging and good copywriting share is a conversational style, and that means it’s fine to fracture the occasional rule of proper grammar in order to communicate effectively. Both bloggers and copywriters routinely end sentences with prepositions, dangle a modifier in a purely technical sense, or make liberal use of the ellipsis when an EM dash is the correct choice—all in order to write in the way people actually speak.

But there are other mistakes that can detract from your credibility. While we all hope what we have to say is more important than some silly grammatical error, the truth is some people will not subscribe or link to your blog if you make dumb mistakes when you write, and buying from you will be out of the question.

Here are five mistakes to avoid when blogging and writing web copy.
1. Your vs. You’re

This one drives me insane, and it’s become extremely common among bloggers. All it takes to avoid this error is to take a second and think about what you’re trying to say.

“Your” is a possessive pronoun, as in “your car” or “your blog.” “You’re” is a contraction for “you are,” as in “you’re screwing up your writing by using your when you really mean you are.”
2. It’s vs. Its

This is another common mistake. It’s also easily avoided by thinking through what you’re trying to say.

“It’s” is a contraction of “it is” or “it has.” “Its” is a possessive pronoun, as in “this blog has lost its mojo.” Here’s an easy rule of thumb—repeat your sentence out loud using “it is” instead. If that sounds goofy, “its” is likely the correct choice.
3. There vs. Their

This one seems to trip up everyone occasionally, often as a pure typo. Make sure to watch for it when you proofread.

“There” is used many ways, including as a reference to a place (“let’s go there”) or as a pronoun (“there is no hope”). “Their” is a plural possessive pronoun, as in “their bags” or “their opinions.” Always do the “that’s ours!” test—are you talking about more than one person and something that they possess? If so, “their” will get you there.
4. Affect vs. Effect

To this day I have to pause and mentally sort this one out in order to get it right. As with any of the other common mistakes people make when writing, it’s taking that moment to get it right that makes the difference.

“Affect” is a verb, as in “Your ability to communicate clearly will affect your income immensely.” “Effect” is a noun, as in “The effect of a parent’s low income on a child’s future is well documented.” By thinking in terms of “the effect,” you can usually sort out which is which, because you can’t stick a “the” in front of a verb. While some people do use “effect” as a verb (“a strategy to effect a settlement”), they are usually lawyers, and you should therefore ignore them if you want to write like a human.
5. The Dangling Participle

The dangling participle may be the most egregious of the most common writing mistakes. Not only will this error damage the flow of your writing, it can also make it impossible for someone to understand what you’re trying to say.

Check out these two examples from Tom Sant’s book Persuasive Business Proposals:

After rotting in the cellar for weeks, my brother brought up some oranges.

Uhh… keep your decomposing brother away from me!

Featuring plug-in circuit boards, we can strongly endorse this server’s flexibility and growth potential.

Hmmm… robotic copy written by people embedded with circuit boards. Makes sense.

The problem with both of the above is that the participial phrase that begins the sentence is not intended to modify what follows next in the sentence. However, readers mentally expect it to work that way, so your opening phrase should always modify what immediately follows. If it doesn’t, you’ve left the participle dangling, as well as your readers.

P.S. You may find it amusing to know that I, like David Ogilvy, have never learned the formal rules of grammar. I learned to write by reading obsessively at an early age, but when it came time to learn the “rules,” I tuned out. If you show me an incorrect sentence, I can fix it, but if I need to know the technical reason why it was wrong in the first place, I go ask my wife.

What is homeowner's insurance? Why is homeowner's insurance required?

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Homeowner’s insurance pays for losses and damage to your property if something unexpected happens, like a fire or burglary. Standard homeowner’s insurance doesn’t cover damage from earthquakes or floods, but it may be possible to add this coverage. Homeowner's insurance is also sometimes referred to as "hazard insurance." Many homeowners pay for their homeowner’s insurance as part of their monthly mortgage payment. You make the payments to the lender, and the lender holds the part of the payment that is for insurance in an escrow account. Then, when the bill for the insurance is due, the lender pays it from the escrow account. The cost of your homeowner’s insurance, as well as any similar insurance to protect the property, is listed on page one of your Loan Estimate, in the “Projected Payments” section. However, it’s usually a good idea to do your own research about how much homeowner’s insurance costs. You can shop separately for homeowner’s insurance, and choose the provider and plan that is right for you. When you have a mortgage, your lender wants to make sure your property is protected by insurance. That’s why lenders generally require proof that you have homeowner’s insurance. If you don’t have insurance, your lender is allowed to buy it for you and charge you for it—but your lender must give you advance notice. If your lender buys insurance on your home because you did not keep up your homeowner’s insurance, that insurance may only cover the lender, and not you. It also may be more expensive than what you could buy on your own. Homeowner’s insurance protects your property. Homeowner’s insurance is not the same as mortgage insurance.

What is auto insurance?

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Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. Auto insurance provides property, liability and medical coverage:

    Property coverage pays for damage to or theft of your car.
    Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
    Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.

An auto insurance policy is comprised of six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements. Most auto policies are for six months to a year. Your insurance company should notify you by mail when it’s time to renew the policy and to pay your premium.

Victoria Beckham to design Longoria's wedding dress

Singer-turned-designer Victoria Beckham will design friend and actress Eva Longoria's wedding dress.

The 41-year-old fashion designer has been asked to create the former "Desperate Housewives" actress' bridal gown when she and fiancé Jose Antonio marry next summer, reports mirror.co.uk.

A source said: "Posh (Victoria) is keen to expand the wedding dress side of the business, so it's a dream come true for her to land this gig.

"She knew she was doing it before Jose even proposed."

Longoria, 40, was previously married to American soap actor Tyler Christopher, then French basketball star Tony Parker, and is now set to wed the Mexican TV boss in 2016, much to the delight of Beckham.

"Eva's wedding photographs will be seen all over the world, so it'll be perfect publicity for Posh," the insider added.

INTERNATIONAL SPORTS FEDERATIONS

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The International Sports Federations are international non-governmental organisations recognised by the International Olympic Committee (IOC) as administering one or more sports at world level. The national federations administering those sports are affiliated to them. While conserving their independence and autonomy in the administration of their sports, International Sports Federations seeking IOC recognition must ensure that their statutes, practice and activities conform with the Olympic Charter.

The IFs have the responsibility and duty to manage and to monitor the everyday running of the world's various sports disciplines, including for those on the programme, the practical organisation of events during the Games. The IFs must also supervise the development of athletes practising these sports at every level. Each IF governs its sport at world level and ensures its promotion and development. They monitor the everyday administration of their sports and guarantee the regular organisation of competitions as well as respect for the rules of fair play.

The IFs may formulate proposals addressed to the IOC concerning the Olympic Charter and the Olympic Movement in general, including the organising and holding of the Olympic Games; give their opinions concerning the candidatures for organising the Olympic Games, particularly concerning the technical capabilities of the candidate cities; collaborate in the preparation of the Olympic Congresses; and participate in the activities of the IOC commissions.

Association of Federations
In order to discuss common problems and decide on their events calendars, the summer federations, the winter federations and the recognised federations have formed associations: the Association of Summer Olympic International Federations (ASOIF), the Association of International Olympic Winter Sports Federations (AIOWF), and the Association of IOC Recognised International Sports Federations (ARISF).

What is Payday Loan?

A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term or cash advance loan) is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday."The loans are also sometimes referred to as "cash advances," though that term can also refer to cash provided against a prearranged line of credit such as a credit card. Payday advance loans rely on the consumer having previous payroll and employment records. Legislation regarding payday loans varies widely between different countries and, within the USA, between different states.

To prevent usury (unreasonable and excessive rates of interest), some jurisdictions limit the annual percentage rate (APR) that any lender, including payday lenders, can charge. Some jurisdictions outlaw payday lending entirely, and some have very few restrictions on payday lenders. In the United States, the rates of these loans were formerly restricted in most states by the Uniform Small Loan Laws (USLL), with 36%-40% APR generally the norm.

There are many different ways to calculate annual percentage rate of a loan. Depending on which method is used, the rate calculated may differ dramatically. E.g., for a $15 charge on a $100 14-day payday loan, it could be (from the borrower's perspective) anywhere from 391% to 3733%.

Although some have noted that these loans appear to carry substantial risk to the lender, it has recently been shown that these loans carry no more long term risk for the lender than other forms of credit.These studies seem to be confirmed by the SEC 10-K filings of at least one lender, who notes a charge-off rate of 3.2%.

What is an Unsecured Debt?

An unsecured debt is an obligation or debt that does not have specific property (like your house or car) serving as collateral for payment of the debt. If you fail to make payment on an unsecured debt, the creditor cannot take any of your property without first suing you and getting a court judgment. (There are a few exceptions to this rule.)
A secured debt, on the other hand, has a piece of property serving as collateral for the debt. If you fail to make payments, the creditor can take the property.

Common Types of Unsecured Debts
Common types of unsecured debts include:
most department store and other credit card charges
student loans
telephone, electric, and other utility bills (except to the extent that you are required to post a deposit)
medical bills
personal loans that you were not required to execute a security agreement or mortgage to obtain
court judgments that have not yet been enforced through remedies such as garnishment or attachment
income taxes (unless they are so seriously delinquent that they have gone into collection and become subject to a governmental lien), and
back rent (except in states that allow landlord liens).
Most debts are unsecured. The primary exceptions are home and auto loans, which are almost always secured.
Advances on lines of credit can be unsecured claims. Some lines of credit are unsecured, backed only by your promise to repay advances taken against them. Obligations on home equity lines of credit, on the other hand, are typically secured claims (secured by your home).
What Happens If You Don't Pay an Unsecured Debt?
If you fail make payment on an unsecured debt, the creditor can contact you to try to obtain payment, report the delinquent debt to a credit reporting agency, or file a lawsuit against you. Generally, a nongovernmental, unsecured creditor cannot seize any of your assets without a court judgment.
How Unsecured Creditors Can Get a Court Judgment
To obtain a judgment, a creditor must file a complaint in state or federal court and serve you with a copy (this is the start of the lawsuit). You have the right to file an answer to the complaint and contest the lawsuit before a judgment can be entered.
Remedies Once the Creditor Has a Judgment
Once a creditor obtains a court judgment against you, it can proceed with collection remedies. Collection remedies and procedures are governed primarily by state law. A judgment creditor may, among other things:
take your examination under oath to obtain information about your income, other obligations, and assets
garnish your wages and bank accounts, and
attach and sell real and personal property.
The percentage of your wages that can be garnished varies from state to state. State and federal law also exempt some real and personal property from collection. Creditors cannot garnish or collect from assets to the extent that they are covered by exemptions.   Exemptions available to you may protect your home equity, household furniture, pension plans, and other items of property from your creditors' collection efforts.
Exceptions to the Court Judgment Rule
If you default on a federally-insured student loan, the Department of Education can garnish up to 15% of your disposable income without a court judgment. State and federal tax authorities also may undertake collection remedies without first going to court.

What is a Refund Anticipation Loan?

Refund anticipation loan (RAL) is a short-term consumer loan in the United States provided by a third party against an expected tax refund for the duration it takes the tax authority to pay the refund. The loan term was usually about two to three weeks, related to the time it took the U.S. Internal Revenue Service to deposit refunds in electronic accounts. The loans were designed to make the refund available in as little as 24 hours. They were secured by a taxpayer’s expected tax refund, and designed to offer customers quicker access to funds.

The costs to the borrower could be significant compared to other lending and some consumer organizations warned consumers of the risk involved in this type of loan.[1] They are a largely discontinued financial product and beginning with the 2013 tax filing season, they have been largely replaced with the similar refund anticipation checks (RAC),[2][3] as well as a hodge podge of other financial products.[4]

RACs are temporary accounts which wait for the client's IRS tax refund, and which also provides a way for the client to pay for tax preparation out of the refund. Both financial products have similar fees and similar risks of third-party bank "cross-collection".

A similar process in Canada to a RAL is termed "tax rebate discounting".

1) What are alternatives to RALs?
Here are some ways to avoid the high costs and risks of RALs and get your tax refund back quickly at the same time:
E-file and request direct deposit — When a taxpayer e-files, they can request the IRS and the state to electronically deposit the refund directly into their personal checking or savings account. It typically takes less than 21 calendar days for the IRS and less than 10 calendar days for the state to process and electronically deposit a refund.
Open a bank account — A taxpayer should open a checking or savings account so their refund can be electronically deposited and available for immediate use. Many banks and credit unions will set-up an account for free. If a person chooses to use a check-cashing store, you will be charged fees to cash a check ($50 on average).
Visit a free tax preparation site (commonly referred to as VITA or TCE) — Trained volunteers will prepare an individual´s tax return for free. Plus, many sites will file the return electronically to speed up the refund. To find a VITA or TCE site, call (800) 829-1040, dial "211", or visit irs.gov.

2) How does the RAL process work?
When a taxpayer receives a RAL, the tax preparer lends the taxpayer the amount of their tax refund less the cost of interest and fees for the loan. When the government sends the actual refund check, it is directly deposited into the bank that made the loan. If the refund is smaller than anticipated due to deductions for items like unpaid child support or traffic tickets, the full amount of the loan must still be repaid.

3) How much does a RAL cost?
The cost of a RAL can vary widely and consumers should understand all the costs associated with this type of loan. RALs often carry extremely high interest rates. In addition, there are often other charges like electronic filing fees, application fees and a fee to cash the loan check. When all the costs of an RAL are added up, taxpayers can be spending more than 10% of their refund just to get the money a few days sooner.

4) What should I ask if I am considering a RAL?
Taxpayers should be sure to read the fine print and ask a lot of questions before signing up for a RAL. Remember that most taxpayers who file electronically receive their refunds in less than 21 days. Paying the costs associated with a RAL could be a large price to pay for getting your money a few days quicker. Before deciding on a RAL, make sure you know the answers to the following questions:
What is the interest rate?
What fees are you being charged?
What happens if your tax refund is less than you thought it would be?

5) Who offers RALs?
Businesses that prepare and file an individual's tax return typically offer RALs. This could include a tax preparation business, car dealership, furniture store, or check casher.

6) What is a creditor who provides RALs required to disclose in writing?
A creditor must disclose:
Any charges or fees for electronically filing the tax return.
The total dollar amount of all charges and fees.
The estimated annual percentage rate of the loan.
That the customer is responsible for repayment of the loan and the loan fees even if the tax refund is not paid or is paid in a lower amount than was anticipated.
The expected length of time by which the customer will receive the loan proceeds.
That the customer's tax return can be e-filed without obtaining a refund anticipation loan.
The anticipated length of time within which customers could expect to receive their refund if their tax return was e-filed, and the customer does not request a refund anticipation loan.

The Advantages and Disadvantages of the Internet

Technology can be defined as applications, instruments, or processes that enhance or simplify the aspects of everyday life. The vehicle you use to drive to work is an example of technology that simplifies life. Or, the Internet, as a whole, can be seen as technology that has greatly enhanced our lives. While the introduction of the Internet led to many benefits, unfortunately, it also came with its own set of problems. Most significantly, these problems can negatively impact your security and privacy.

Let’s address some of the advantages and disadvantages (drawbacks) of the Internet, and what you can do to keep your security and privacy intact.



Electronic Communications:
The Advantage:
Before the Internet came into existence, to communicate with someone who isn’t in the same room as you, you would have to call them on a phone. Or if you wanted to send them a note you had to send a letter through snail mail. With the introduction of the Internet, we now have the ability to send and receive messages through electronic mail- virtually instantaneously and without the need of a postage stamp.

The Problem:
Unfortunately, the ability to send and receive emails also created a means for cybercriminals to distribute spam and malware. Malware hiding in email attachments could wreak havoc to your PC or possibly even create a backdoor for an attacker to infiltrate your system. Through emails, cybercriminals saw this as another opportunity to play on human emotions and lure victims into revealing sensitive information through phishing scams.

What You Can Do
In addition to making sure your PC has an antivirus and two-way firewall, the key here is to think before you click. Did you get an email indicating there was unusual activity with your account and that you should click on this link to verify? Or, did you receive an email confirmation of a flight you did not make? In either instance, do not panic. If you’re unsure whether the email is legitimate or not, the best way to find out is to log into your online account directly to check on the claim. As always, never open email attachments from a sender you do not know.

Online Shopping:
The Advantage:
With the Internet came the convenience of online shopping. Rather than having to drive to a mall and wait in long lines to make a purchase, you can now do all of your shopping with a few clicks of the mouse. In addition, the Internet made it easier for individuals to price compare between different online retailers to see which one offers the best selections and prices.

The Problem:
While the Internet brought upon convenience for individuals to make online purchases, this also created yet another way for cybercriminals to steal personal information and to distribute malware.

First, cybercriminals create fake websites that offer goods at unbelievable prices to attract individuals. For example, during the Holiday Season you might search for the best electronic deals through a search engine. Cybercriminals can trick you into clicking on their fake website by boosting their ranking in the search engine results page (SERP) through a technique called SEO poisoning. You might think you’re making a legitimate purchase, but in actuality the cybercriminal has just taken hold of your personal information and could now use it to commit identity theft or sell it to the black market.

Second, cybercriminals can spread malware on legitimate websites by means of drive-by-downloads. Since popular and legitimate online shopping websites already receive a ton of visitors, this makes it much easier for cybercriminals to infect a wider reach of computers in a shorter amount of time. Legitimate websites could unknowingly distribute malware to visitors through malicious advertisements (or malvertisements) that are run by third-party vendors, or simply by hackers who have compromised the website itself.

What You Can Do
Rather than using a search engine to search for amazing deals during the Holiday season, it’s better to go to the official website of the online retailer directly. And if you’re thinking about making a purchase from unknown online retailers, simply don’t. When it comes to online retailer that might not be as popular or well-known as Amazon, tools such as MyWOT can give you a better idea of the reputation of the website. Additionally, PC security that comes with anti-phishing is a must in helping you avoid fraudulent websites. And just in case the legitimate website you’re visiting has been compromised, your security software is there to stop the threats before it has a chance to infect your PC!

Online Banking:
The Advantage:
Nowadays, online banking is practically the norm. You log into your online accounts to pay bills, transfer funds, or just to check your balance. Prior to online banking, you would have to drive to your local bank and wait in line for the next teller to have your transactions completed. With the Internet, you can avoid the line all together simply by remotely logging into your account on your computer and completing your transaction from there any time of day or night.

The Problem:
While the Internet brought upon efficiency and convenience of banking for consumers, this also gave cybercriminals a means to potentially steal your hard-earned cash. Cybercriminals could trick you into downloading a backdoor Trojan that would give them a back entry to your PC, where they could then record your banking credentials. Or, as mentioned in the section on “Electronic Communications”, cybercriminals could deceive you into revealing your credentials through a phishing scam. All of this could be done via the Internet without leaving any trace.

What You Can Do
One of the last things you want to happen to you is for a cybercriminal to have access to your finances. Cybercriminals can take advantage of vulnerabilities in outdated software and use it to infect your PC with malware that can steal your banking credentials, so be sure to have adequate PC security software and to keep your operating system, Web browsers, and other applications up-to-date. When it comes to accessing your online banking account at a public hotspot, only do so if you’re connected to a VPN (virtual private network).

The Internet of Things (IoT)
The Advantage:
The main advantage of the Internet is its ability to connect billions of computers and devices to each other. Not only does the Internet create convenience in sharing and receiving information between users, another advantage of the modern Internet is its ability for automation. Enter “The Internet of Things”, where devices and sensors communicate with each other to automatically perform a designated task or function. For example, a smart thermostat could reduce your energy cost by automatically adjusting the temperature when it senses you have left the house. Additionally, it “learns” your heating and cooling preferences and adjusts them to your liking.

The Problem:
While a smart thermostat can aid in reducing your energy cost, the downside is that a hacker could exploit the hardware of the thermostat and use it to spy on home owners. Since smart thermostats have access to information such as when you’re home or away, your zip code, and your WiFi credentials, a hacker who compromises the thermostat will now have access to all of this information.

Smart thermostats aren’t the only devices vulnerable to attacks. According to a recent study, 70 percent of IoT devices are vulnerable to cyber-attacks. This list includes thermostats, TVs, webcams, sprinkler control systems, home alarms, and door locks- just to name a few. The truth of the matter is that all of these devices have loopholes and vulnerabilities that could be exploited by just about anyone.

What You Can Do
If you chose to use IoT devices, make sure to examine the privacy policies and security features before making a purchase decision. Also, when new security patches or software updates are available, you should immediately update to the latest version. And finally, don’t be afraid to contact the company that manufacturers the device, should you have questions or concerns about the product.

Never Let Your Guard Down
Are we saying we should go back to how things were before the Internet? Absolutely not! The Internet offers great opportunity and advancement. However, keep in mind, the more convenient something is, the less secure it will be making it a lot more vulnerable for a hacker to exploit its weaknesses. Enjoy what the Internet has to offer, but always be conscious of the potential risks, as doing so goes a long way to helping you stay more secure in this connected world.

Criteria for The World's Healthiest Foods

Among the thousands of different foods our world provides, the majority contain at least several of the nutrients our bodies need but to be included as one of the World's Healthiest Foods they had to meet the criteria listed below.
The criteria we used will also help you understand why some of your favorite (and also nutritious) foods may not be included on our list. For example, Readers have asked why pomegranate, a very nutritious food, is not included on our website. While pomegranates taste great and are rich in vitamins and flavonoid phytonutrients, they are still rather expensive which makes them not as widely available to many people.

1. The World's Healthiest Foods are the Most Nutrient Dense

The World's Healthiest Foods have been selected because they are among the richest sources of many of the essential nutrients needed for optimal health. We used a concept called nutrient density to determine which foods have the highest nutritional value.
Nutrient density is a measure of the amount of nutrients a food contains in comparison to the number of calories. A food is more nutrient dense when the level of nutrients is high in relationship to the number of calories the food contains. By eating the World's Healthiest Foods, you'll get all the essential nutrients that you need for excellent health, including vitamins, minerals, phytonutrients, essential fatty acids, fiber and more for the least number of calories. Read more about Our Food and Recipe Rating System.

2. The World's Healthiest Foods are Whole Foods

The World's Healthiest Foods are also whole foods complete with all their rich natural endowment of nutrients. They have not been highly processed nor do they contain synthetic, artificial or irradiated ingredients. And whenever possible, The Healthier Way of Eating recommends purchasing "Organically Grown" foods, since they not only promote your health, but also the health of our planet.
3. The World's Healthiest Foods are Familiar Foods

The World's Healthiest Foods are common "everyday" foods. These include the fruits, vegetables, whole grains, nuts and seeds, lean meats, fish, olive oil, herbs and spices that are familiar to most people.
4. The World's Healthiest Foods are Readily Available

Although there are many foods that are exceptionally nutritious, many of them are not readily available in different areas of the country. The World's Healthiest Foods are foods that the majority people can easily find at their local market.
5. The World's Healthiest Foods are Affordable

We have selected foods that are not only familiar and available, but also affordable, especially if you purchase them locally and in season. This is also the time when they are the freshest and of the best quality.
6. The World's Healthiest Foods Taste Good

The World's Healthiest Foods are also some of the world's best tasting foods. We have created recipes using the World's Healthiest Foods that do not overpower, but enhance, the unique flavor of each food. Each recipe provides a flavor adventure so you can discover new ways to experience and enjoy the great natural tastes of these foods.

What Is the Real Definition of Beauty?

Beauty is power; a smile is its sword 

Beauty has varied throughout time, various cultures and the vast different perceptions of the world. Beauty has been described and depicted through pictures and concepts penetrating our minds. Beauty has been defined in so many ways. What I have discovered is that beauty is simple. Beauty is happiness.

It's the images and moments that inspire and represent the most distinct and remarkable attractiveness of our souls. It's the moments we feel free and real. It's the moments we feel proud and eminent. It's the moments we feel alive. It seems like that element should be inherent, but it isn't.

Beauty is often distorted, misunderstood and shadowed by a wide amount of conflicting pressures. It is something we endlessly strive for, rather than see in the true essence of our happiest moments.

I think of the times I've been most happy and whether or not those align with common beauty standards. It hasn't been the nights my hair stayed intact, body dressed attractively, or skin shined flawlessly. It's been the moments I felt beauty because of happiness, which was not derived from my appearance -- at all.

I love the beauty that pulsates through my body with my lover's hand on the back of my messy hair, and lips pressed against mine. I love the beauty of how I feel on the beach, with my hair stuck to my face by the salty ocean water and the way my skin feels being touched by the sand and sun. I love the beauty of my sweaty face and squealing voice as I belt out lyrics at a concert. I love photos that capture my beauty during unrehearsed moments. These are the times when I feel most beautiful because I'm alive, not because of what an exterior image has brainwashed me to believe.

It's those sensations that ignite the real flame of confidence and beauty in the souls of those constantly bombarded with messages telling them to believe otherwise. It's the little moments, like when someone looks at you with respect and admiration. It's the true ecstasy of falling in love with people and places in a magically easy way. It's the way it feels to achieve a goal you're worked tirelessly to achieve. It's the wrinkles from every effortless smile and furrowed brow of strength that make a face perfect. It's the moments that build the women we become and strive to be. Beauty is in the heart, and the way it shines through.

We are all unique women, with experiences and memories that tie together seamlessly into a blanket of our own versions of beauty. We are different shapes, sizes, colors, and heritage. We are mothers, daughters, and grandmothers. We are activists, innovators, achievers and inspirations. We are the lives and change we create, and that is beauty.

Our bodies are simply a shell that allows us to radiate these experiences and accomplishments through. They are a case that displays our happiest and most incredible experiences for the world to share with us. No culture, company or concept could ever define beauty. It is composed of the moments that draw upon our strength, and consume us with the remarkable and intoxicating experience of being alive.

Bank Loans and Overdrafts (GCSE)

A bank overdraft is a limit on borrowing on a bank current account. With an overdraft the amount of borrowing may vary on a daily basis.

A bank loan is a fixed amount for a fixed term with regular fixed repayments. The interest on a loan tends to be lower than an overdraft.

Example of a loan:

A business borrows £12,000 from a bank over 3 years at an interest rate of 5%. The approximate repayments on this loan would be £392 a month for 36 months (£14,112).

A fixed term means how many months or years before the loan has to be repaid in full.

Normally a fixed term loan will be for a greater amount than an overdraft.

Overdrafts

Loans

Advantages

Flexibility – can change the amount borrowed within limits

Interest is only paid on amounts borrowed

Larger amounts can be borrowed

Lower interest rates than overdrafts

Regular repayments help plan cash flow

Disadvantages

Cannot be used for large borrowing

Rates of interest higher than loans

Bank can change limit at any time or ask for money to be paid back sooner than expected

Less flexible than an overdraft

Have to pay back in stated time or risk further financial problems


Debentures

A debenture is a long term loan which is usually secured against a specific asset (e.g. the factory) or the overall assets of a business. A debenture is repayable at a fixed date and has a fixed rate of interest.

Debentures are different from ordinary shares because:

The lender has no voting rights in the company.

The loan attracts interests – whereas holders of ordinary shares get dividends.

The providers of loans are paid out before ordinary shareholders in the event that the business fails (assuming there is some cash left).

Cyber crime victims refuse to hand over computers for police analysis as backlog creates year-long delays

Victims of cyber crime are refusing to hand over their computers to police for analysis because a substantial backlog means that they could be deprived of them for months.

Fear follows crime, and is its punishment

Researchers found that one police force had a nine-month backlog of devices waiting to be examined, despite spending £180,000 on outsourcing the work to the private sector.

Delays of up to 12 months to examine devices were not uncommon, according to the report by HM Inspectorate of Constabulary.


Victims have told officers they are not willing to accept a year of disruption while waiting for overwhelmed specialists to extract information.

“We cannot afford backlogs and we cannot afford to outsource,” a senior officer said.

The report provides the latest evidence of delays and failures to properly investigate the fast-growing area of crime. One person in the UK falls victim to a fraud or a cyber attack every four seconds.

Inspectors reported earlier this year how an alleged paedophile had fled to the Czech Republic during the three years it took for police to examine his computer.

The man – who had attacked his partner – had his computer seized in March 2011 after the woman said that he had indecent images of children on it. That was only confirmed in January 2014, by which time the man had left the UK.

In another case, a sex offender fled to Spain to avoid prosecution and computers were seized from his home in 2012. An officer was asked three times to compile a file of evidence against the fugitive, but more than two years later it had not been done.


“Having hundreds of computers in a backlog awaiting full examination does not support the victim and undoubtedly does not do anything to prevent further crime,” said the report Real lives, Real crimes, released today. It said there were “significant backlogs” with specialist units unable to cope with the demand.

The report also said that forces were losing opportunities to claw back money from fraud because of the time it took to start proper inquiries. Total losses reported to Action Fraud – the national central point for collecting details of online crime – amounted to £3.5bn in the year to 2015.

The report said that police officers might only have a window of about 24 hours to act, before money was transferred from UK bank accounts. But it found that it took 30 days on average before it was allocated to an investigator.

“This delay presents a substantial opportunity to the offender who has the ability to generate a complex money trail, often involving bank accounts outside the jurisdiction, to salt away the fraudulently-obtained funds,” the report found.

An examination of cases found that officers lacked empathy with the victims, and had even turned down the offer of evidence that had been carefully collected by the victim.

Stephen Kavanagh, the police chief responsible for digital investigations, said: “More still needs to be done.”

Work at Home Jobs With No Startup Fees

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Most people want to find a work at home opportunity that does not charge a fee. Usually, it is because they are concerned about being scammed. Scammers will usually offer a deal that is too good to be true and then will likely ask for personal information and a bank account number. It is important that you avoid sites that ask for that kind of information. It is very important to be aware of the popular work at home scams online today. Here is a list of some great websites that do not require a startup fee.

"Success usually comes to those who are too busy to be looking for it."

Work at Home Opportunities that Don’t Charge a Startup Fee I will try to keep this list updated for those who do not want to pay any upfront fees to start a home-based job. If you personally know someone that would be interested in finding a work from home job with no startup fees, feel free to share. Tutor.com – This Company offers online tutoring opportunities. You are able to set up your own schedule depending on your availability and they do not charge any sign up fees. Accolade Support – This Company will bring you on board as an independent contractor to provide PC desktop support. The pay offered is between $8.25 and $10 an hour. They do not charge any fees. Aim-for-a-Tutor – To be considered for a job with this company you need to send a well written resume to jobs@aim4a.com. You will need to include a paragraph that says why you are interested in the position, provide your available hours, give your skype name and how much you hope to earn. Once hired you will provide one-on-one tutoring online. 1-800-Translate – They hire people to work as freelance translators from around the world. No fees involved. Speakwrite – They hire only from Canada and the USA to work as typists. They receive many applications and as a result they will often put the application process on hold. Keep checking back from time to time. The Coding Network– You need previous work experience for this position. They hire medical coders to work from home. Great American Opportunities– If you enjoy data entry this is a great opportunity for you. You work as an independent contractor keying in magazine subscriptions and gift orders that come in for their school fundraising projects. In order to qualify for the position, you will be required to take and pass a test. The email to use when sending your resume is greatamerican@gafundraising.com Google Ads Quality Rater – The position involves carrying out an evaluation of google search engines. It is a part –time work from home opportunity. You need to have a college degree to qualify for this position and you must also take and pass the test that they administer. They provide training before you can work for them. Click n Work – The positions available with this company are numerous. They include web searchers, data entry, writers and phone interviewers among others. Brainfuse– This Company offers flexible hours working from your home as an online tutor. They do not charge any fees to start. Terescription– You will need foot pedal to work with Terescription. They hire for the position of transcriber in the entertainment business and you get to work from home. AB Global – You need to be bilingual to work as a translator in this family owned company. They do not charge any fees to get started. 1-800-Flowers – This Company is based in New York. They are a flower company and they usually hire call center agents on a permanent, seasonal and temporary basis. You need a land line telephone, internet access and a computer in order to work for them. It is important to note that they hire from specific states only. You need to have previous call center work experience and over 18 to work for them. Your communication and writing skills should also be good. You can check out their website for further information. 1-800-Contacts – This Company looks to hire customer service reps to work from home. You need to be within a 50 mile radius of Draper, Utah in order to work for them. They pay about $10 an hour with added incentives.