World Bank: “Thai economy to grow despite various risk factors”
The World Bank today presents a positive view on how the local economy will perform during the remainder of the year.
The outlook of Thai economy in the year 2008 has appeared varied among different agencies with the government recently adjusted its GDP projection upward by half a percentage point last week while many economists saw things otherwise.
However, World Bank economist, Kirida Bhaopichitr, today presented a positive view on the direction of the local economy.
According to the World Bank, Thai GDP is expected to improve despite a palette of internal and external risks.
The World Bank’s latest report on Asia-Pacific economic conditions for 2008 also stated that Thai economy had experienced internal risks from rising inflation and political uncertainties as well as external risks from the global economic slowdown.
And it also supported the Thai government's fiscal measures to stimulate the economy for this year which include tax reductions, village fund disbursements, a debt moratorium and soft loans for low-income people.
The World Bank suggested that for every 10 billion baht the government set aside from the budget for the implementation of these measures Thai GDP will grow by 0.1%.
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Cabinet approves new set of stimulus measures worth more than THB400bil
The Cabinet resolved to approve a new series of economic stimulus measures specifically for low-income earners.
The Cabinet has today approved 6 new measures aimed at boosting grassroots economy.
Deputy Finance Minister, Pradit Pattraprasit, told reporters after the meeting that the newly-approved package includes a 40-billion-baht SML project aimed at 40 million Thais from now and the year 2010 and a 1.6-billion-baht learning fund for 1,600 villages and communities.
Other projects are a 10-billion-baht low-interest mortgage for those whose monthly salary is not more than 15,000 baht and a 17.9-billion-baht two-year debt moratorium for farmers.
The Government Savings Bank also takes part in other measure by setting up a loan target of 5 billion baht for 250,000 Thais across the country in 2008 while the Bank for Agriculture and Agricultural Cooperatives aims to grant as much as 325 billion baht in loans to promote crops that are used for the production of alternative fuel.
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Analysts predict baht to strengthen further and end at THB31.50/US$
International analysts have predicted that the Thai currency would strengthen and end the year higher in 2008.
Analysts from JP Morgan Chase and Co and from UBS all agreed that the baht would likely strengthen further in the near future just like Indonesian Rupiah and Philippine Peso.
Despite a seven-per-cent-plus appreciation of the baht in 2007 and the continuation of its strengthening trend since the beginning of this year the Thai currency has been locked in volatile trade lately.
This is due to their prediction that all central banks would likely be employing the foreign exchange policy as a tool to keep inflationary pressure in check.
Analysts added that stronger currencies would help each country control imports just when Asian exports are predicted to shrink due to sluggish economic condition in the US.
Meanwhile the World Bank commented that the Bank of Thailand would not likely reduce its policy interest rate at its next meeting since the rate cut would affect both the inflation rate and deposit rates.
Still, it maintained that Thailand should not worry about capital influx as interest rates offered in neighboring countries are still higher than those in this country.
SET MONITOR:
Thai share prices rebounded today on improved sentiment sparked by new state economic stimulus package.
The Stock Exchange of Thailand’s main index finished more than 6 points higher at 823 points still with light volume of less than 12 billion baht or about 374.5 million dollars.
Local institutions were the only net seller of 96 million baht or around 3 million dollars.
Foreign investors posted the biggest net buy of 86 million baht or nearly three million dollars followed by retail investors of 10.5 million baht.
The SET composite index added 0.75% at its close as investors hoped for better prospects for the economy after the government approved a 12.7-billion-dollar rural loan scheme.
The stimulus package improved the economic outlook but sentiment was still overshadowed by fears of a slowdown of the US economy.
Tuesday, December 2, 2008
Friday, July 25, 2008
Saving Money Tips for Children
1) If your employer allows, participate in a child care flexible spending account. This is a special account that the Internal Revenue Service (IRS) created that allows you to set aside money for child care expenses with pre-tax dollars. You ask your employer to take out a certain amount of money each month from your paycheck and you can use this money tax free for child care related expenses.
2) Inquire to see if your company has partnerships or offers discounts for certain child care provider services. Companies will sometimes negotiate discount plans with local child care providers to help offset child care costs.
3) See if your public school district offers a half day pre-kindergarten program for 4-year-olds. These programs are usually free and by signing your child up, it will reduce your child care needs to a half day from a full day.
4) If your employer allows flex hours, job sharing or telecommuting, you may be able to use these to juggle your schedule and cut your child care costs.
5) If both you and your spouse work, see if it's possible to arrange your work schedules so they overlap as little as possible. This will allow you to reduce the number of hours your child has to spend at child care.
6) See if there is a relative that can help with child care.
7) Consider hiring a nanny and sharing the cost of child care with a few good friends. This will allow you to pay less individually for child care costs and the nanny will make more overall.
2) Inquire to see if your company has partnerships or offers discounts for certain child care provider services. Companies will sometimes negotiate discount plans with local child care providers to help offset child care costs.
3) See if your public school district offers a half day pre-kindergarten program for 4-year-olds. These programs are usually free and by signing your child up, it will reduce your child care needs to a half day from a full day.
4) If your employer allows flex hours, job sharing or telecommuting, you may be able to use these to juggle your schedule and cut your child care costs.
5) If both you and your spouse work, see if it's possible to arrange your work schedules so they overlap as little as possible. This will allow you to reduce the number of hours your child has to spend at child care.
6) See if there is a relative that can help with child care.
7) Consider hiring a nanny and sharing the cost of child care with a few good friends. This will allow you to pay less individually for child care costs and the nanny will make more overall.
YOUR CHILD AND THEIR ALLOWANCE
HOW OLD SHOULD KIDS BE TO GET AN ALLOWANCE?
Start as early as you and your child are comfortable. Kids often develop a very early fascination with money, so they will be very excited to have some money of their own. Kindergarten age is a good time to start -- though some parents begin earlier if the child is ready.
HOW MUCH ALLOWANCE TO GIVE?
How much money should kids get? This depends on your own family budget restrictions and personal situation. One suggestion might be $1 for every year of age. So a five year old would get five dollars, and a ten year old would get ten dollars a week. Or start with a certain dollar amount, and increase it by $1 each year. Though, we would suggest giving an amount that is comfortable with you, based on your own child's spending habits, and your budget. The main point is to give a certain amount on a regular basis.
If your child is older, you might also start by asking you child how much money they wish to receive each week. If they don't know how much, you could ask them to see how much they might spend each week (which is also a good way to get them to think about budgeting). Then adjust that amount to something more appropriate if necessary.
HOW OFTEN SHOULD AN ALLOWANCE BE PAID?
Allowances do not have to always be paid weekly. Some parents pay their kids at the same time they get their own paycheck, which may be every other week. Others give a monthly allowance to encourage better budgeting skills. Though, we suggest a minimum of once per week.
BASIC MONEY MANAGEMENT SKILLS
Allowances help teach basic money management and economic principles. For example, some parents find that their children often ask too often to buy something when they are out shopping. By giving a allowance, then instead of getting pressure to buy something, you can let the kids decide to buy, if they have an allowance. "You get an allowance, so its up to you to use your own money." This way they can begin to learn the concept that money is a limited resource.
CHORES AND ALLOWANCE
Should your child only make an allowance if they do chores? This is one approach that might seem appealing, but it is often considered a mistake.
Having a chore-allowance relationship is not recommended, since it takes away from the money skills that children might otherwise learn. Chores should be considered a family responsibility that should not be associated with money. Also, kids may not do their chores if they only have to give up a small allowance. The purpose of an allowance is to teach money skills, and this may be lost if it is strictly tied to chores, and if the allowance is not regular and consistent.
As a compromise, you may pay a base allowance, and let your child make additional money if they complete additional chores for the week.
SAVING MONEY
Of course, don't let your children buy everything they want immediately if they have the money. An important concept to teach is the concept of saving. By saving money, we can buy something more expensive tomorrow, if we save our money today. However, at the same time the money given as an allowance is now your child's, so you must let them decide how they spend it -- its part of the learning process.
Though, you can still give guidance. For example, when you are shopping, and your child asks to buy something, always ask them if they are sure if that is what they want, and that they could save their money to buy something better.
Along with the allowance, you can establish some restrictions. For example, you should require the child to set aside a certain amount to save. So if the allowance is $3, for example, then perhaps $1 should be placed in a piggy bank for saving, while $2 can be used for spending. You can even set aside a percent for donating as well.
To encourage even longer-term savings, you may want to give your child additional money to allocate to long-term savings. Long-term savings money should then be deposited to a bank account or other financial institution. Long-term savings could be for college or other long-term goals.
CLOTHING ALLOWANCE
For help with budgeting for different items or spending categories, it may be easier to help your child budget his or her money by setting up a special allowance. For example, for clothing you could give a clothing allowance in addition to the normal allowance. Money for the clothing allowance is only to be spent on clothing.
KIDS BANK
Some parents find it difficult to always be carrying around their child's money when shopping. In that case, it may be easier to start a kids bank. With a kids bank, the weekly allowance is 'deposited' into a simulated bank account. Then, your child can write a check when making a 'withdrawal', and you can directly give them the money.
An extra benefit of this approach is that your child can learn basic checking skills, and practice math.
TRIAL AN ERROR
Remember, kids will learn by trial and error. Don't be too afraid that your children will not spend their money wisely. Its much better that they make mistakes now, when they are young, rather than later in life -- that's what an allowance is for.
Money skills are unfortunately not taught extensively in school, so its up to you to help your kids learn about money and the value of savings!
Start as early as you and your child are comfortable. Kids often develop a very early fascination with money, so they will be very excited to have some money of their own. Kindergarten age is a good time to start -- though some parents begin earlier if the child is ready.
HOW MUCH ALLOWANCE TO GIVE?
How much money should kids get? This depends on your own family budget restrictions and personal situation. One suggestion might be $1 for every year of age. So a five year old would get five dollars, and a ten year old would get ten dollars a week. Or start with a certain dollar amount, and increase it by $1 each year. Though, we would suggest giving an amount that is comfortable with you, based on your own child's spending habits, and your budget. The main point is to give a certain amount on a regular basis.
If your child is older, you might also start by asking you child how much money they wish to receive each week. If they don't know how much, you could ask them to see how much they might spend each week (which is also a good way to get them to think about budgeting). Then adjust that amount to something more appropriate if necessary.
HOW OFTEN SHOULD AN ALLOWANCE BE PAID?
Allowances do not have to always be paid weekly. Some parents pay their kids at the same time they get their own paycheck, which may be every other week. Others give a monthly allowance to encourage better budgeting skills. Though, we suggest a minimum of once per week.
BASIC MONEY MANAGEMENT SKILLS
Allowances help teach basic money management and economic principles. For example, some parents find that their children often ask too often to buy something when they are out shopping. By giving a allowance, then instead of getting pressure to buy something, you can let the kids decide to buy, if they have an allowance. "You get an allowance, so its up to you to use your own money." This way they can begin to learn the concept that money is a limited resource.
CHORES AND ALLOWANCE
Should your child only make an allowance if they do chores? This is one approach that might seem appealing, but it is often considered a mistake.
Having a chore-allowance relationship is not recommended, since it takes away from the money skills that children might otherwise learn. Chores should be considered a family responsibility that should not be associated with money. Also, kids may not do their chores if they only have to give up a small allowance. The purpose of an allowance is to teach money skills, and this may be lost if it is strictly tied to chores, and if the allowance is not regular and consistent.
As a compromise, you may pay a base allowance, and let your child make additional money if they complete additional chores for the week.
SAVING MONEY
Of course, don't let your children buy everything they want immediately if they have the money. An important concept to teach is the concept of saving. By saving money, we can buy something more expensive tomorrow, if we save our money today. However, at the same time the money given as an allowance is now your child's, so you must let them decide how they spend it -- its part of the learning process.
Though, you can still give guidance. For example, when you are shopping, and your child asks to buy something, always ask them if they are sure if that is what they want, and that they could save their money to buy something better.
Along with the allowance, you can establish some restrictions. For example, you should require the child to set aside a certain amount to save. So if the allowance is $3, for example, then perhaps $1 should be placed in a piggy bank for saving, while $2 can be used for spending. You can even set aside a percent for donating as well.
To encourage even longer-term savings, you may want to give your child additional money to allocate to long-term savings. Long-term savings money should then be deposited to a bank account or other financial institution. Long-term savings could be for college or other long-term goals.
CLOTHING ALLOWANCE
For help with budgeting for different items or spending categories, it may be easier to help your child budget his or her money by setting up a special allowance. For example, for clothing you could give a clothing allowance in addition to the normal allowance. Money for the clothing allowance is only to be spent on clothing.
KIDS BANK
Some parents find it difficult to always be carrying around their child's money when shopping. In that case, it may be easier to start a kids bank. With a kids bank, the weekly allowance is 'deposited' into a simulated bank account. Then, your child can write a check when making a 'withdrawal', and you can directly give them the money.
An extra benefit of this approach is that your child can learn basic checking skills, and practice math.
TRIAL AN ERROR
Remember, kids will learn by trial and error. Don't be too afraid that your children will not spend their money wisely. Its much better that they make mistakes now, when they are young, rather than later in life -- that's what an allowance is for.
Money skills are unfortunately not taught extensively in school, so its up to you to help your kids learn about money and the value of savings!
Saturday, June 14, 2008
Convert any currency
Use this converter
XE Universal Currency Converter http://www.xe.com/ucc/
About the Universal Currency Converter
The XE Universal Currency Converter®, the world's most popular currency tool, lets you to perform currency and foreign exchange rate calculations, using live, up-to-the-minute mid-market currency rates.
To make global payments and transfers on-line with guaranteed best exchange rates, use XE Trade. For 24-hour online currency trading on the Forex Market, try FXCM, a service that allows you to buy and sell foreign exchange positions in real time.
Instructions
Type the amount of source currency in the input box. You may include commas and a decimal point. Then Scroll down to select the source and destination currencies and press "Go!". The results of your conversion will be displayed.Note: An asterisk (*) indicates if currencies are obsolete or being phased out.
Learn more about the three-letter currency codes used above, or have a look at our list of world currency symbols.
XE Universal Currency Converter http://www.xe.com/ucc/
About the Universal Currency Converter
The XE Universal Currency Converter®, the world's most popular currency tool, lets you to perform currency and foreign exchange rate calculations, using live, up-to-the-minute mid-market currency rates.
To make global payments and transfers on-line with guaranteed best exchange rates, use XE Trade. For 24-hour online currency trading on the Forex Market, try FXCM, a service that allows you to buy and sell foreign exchange positions in real time.
Instructions
Type the amount of source currency in the input box. You may include commas and a decimal point. Then Scroll down to select the source and destination currencies and press "Go!". The results of your conversion will be displayed.Note: An asterisk (*) indicates if currencies are obsolete or being phased out.
Learn more about the three-letter currency codes used above, or have a look at our list of world currency symbols.
Friday, May 23, 2008
Where to keep money absolutely secure from judgements, collectors suits from court?
a saftey deposit box in a bank. They are not allowed to know what you keep in it and they dont have the key to get into it either. You can also invest in a safe that bolts to your floor. I am not sure about the canadian banks and its interactions with american judgements. If you are drawing interest on it, it will still report to your income statements so the IRS would be completely aware.
No place is safe from judgements or court suits. It might be best to keep your money in cash, but put it somewhere safe. I presume you aren't talking of thousands of dollars and cheating the government or something dire like that. I would be very careful about putting it in someone else's name, even your Mom's. If she passed away, you could have a heck of a time getting your money unless she made out a will, leaving it to you. Then, you're in the same boat with collectors that you are now.While you are saving your money, try to get that bill paid. Try to make a settlement, which would involve less money. You can ask for a court hearing to have the amount of the judgment lowered. You won't rest easily until it is paid and then you can make a fresh start.
No place is safe from judgements or court suits. It might be best to keep your money in cash, but put it somewhere safe. I presume you aren't talking of thousands of dollars and cheating the government or something dire like that. I would be very careful about putting it in someone else's name, even your Mom's. If she passed away, you could have a heck of a time getting your money unless she made out a will, leaving it to you. Then, you're in the same boat with collectors that you are now.While you are saving your money, try to get that bill paid. Try to make a settlement, which would involve less money. You can ask for a court hearing to have the amount of the judgment lowered. You won't rest easily until it is paid and then you can make a fresh start.
Saturday, April 26, 2008
About Money
We didn’t always have money. People used to trade things they had for things they wanted. If they had a lot of rice, they might trade it with someone who had too much fruit. Or a person who was very good at building might make a chair or table and get paid with chickens or clothes!This kind of trading, without using money, is called barter. But you can imagine the problems people had. What if one person had, say, mangoes to trade and wanted shoes in return? But the shoemaker didn’t want mangoes that day! Plus, the mangoes could spoil, so you couldn’t wait until next week when the shoemaker would want mangoes. So money was invented.
Learn how to manage your money, make smart investments, start and run your own business, do your taxes and save for retirement from this blog.
How to keep and use bank notes
Bank notes are made from papers so it is easy to be destroyed. Well, here is the guidance to keep your bank note stay longer.
1. Use it carefully to prevent tearing. 2. Keep bank notes in shape, avoid folding or scraping the notes. If you have to double over it, you should keep the front side together. 3. Keep away from humidity, heat and flame. 4. Should not write or stamp on the note. 5. Avoid stapling bank note.
If you keep bank note in proper way, it’s not only make it stay new for very long time but you also help the country saving budget to reproduce bank notes.
Learn how to manage your money, make smart investments, start and run your own business, do your taxes and save for retirement from this blog.
How to keep and use bank notes
Bank notes are made from papers so it is easy to be destroyed. Well, here is the guidance to keep your bank note stay longer.
1. Use it carefully to prevent tearing. 2. Keep bank notes in shape, avoid folding or scraping the notes. If you have to double over it, you should keep the front side together. 3. Keep away from humidity, heat and flame. 4. Should not write or stamp on the note. 5. Avoid stapling bank note.
If you keep bank note in proper way, it’s not only make it stay new for very long time but you also help the country saving budget to reproduce bank notes.
Thursday, April 24, 2008
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