Wisdom of Rich Dad

Already, smartphones can pay for Big Macs, Girl Scout cookies, and taxi rides. With the much-anticipated rollout of Google Wallet underway, some models will also be able to spend gift cards and pay at many more locations.

Google Wallet and MasterCard PayPass, two examples of mobile money, work by storing your card data (from credit cards, prepaid cash cards, and loyalty cards) on your phone, then transmitting the info to the checkout stand when you wave or tap your device.

With new applications and improved phones making mobile money more common, this is a good time to master the basics:

Tap-and-pay systems. Google Wallet and MasterCard PayPass transmit your encrypted payment information wirelessly from your phone or a keychain gizmo to a special reader. Some systems require physical contact between your phone and the reader, but a new generation of phones hitting the market in 2012 will turn the tap to a wave.

While this may not sound like a big improvement over swiping a credit card, it might save you time and money as daily deals, coupons, gift cards, and loyalty rewards programs are integrated. Meanwhile, transit systems in London, New York, and Singapore are all evaluating PayPass as a replacement for metrocards.

Read the rest of this entry »

The eagerness to join the queue to buy Northern Rock never came close to matching the rush to line up outside its branches to pull savings out.

But at least the sale means that the beginning of the end of a disappointing British banking saga has arrived.

Northern Rock stood for all that went bad in the UK’s banking system, as those who should have known better bundled recklessly into a headlong rush to throw money at borrowers, believing that the days of easy credit could never end and house prices could never fall.

The Rock dispensed with the idea of backing mortgages with savers’ deposits and instead borrowed huge amounts on the wholesale money markets to fund rapidly expanding mortgage lending – money was cheap, house prices were going up, you couldn’t lose.

It was different this time.

Read the rest of this entry »

Soaring unemployment is forcing many workers who lose their job to become self-employed.

The number of self-employed people has jumped to its highest level since records began nearly 20 years ago, official figures revealed yesterday.

Between August and October, 166,000 more people became self-employed, raising the total to 4.1million, the Office for National Statistics said.

Experts raised doubts over whether all of these were happy about the decision, or simply had no other option.

Michael Saunders, of investment bank Citigroup, said: ‘It may well be some, having lost their jobs, categorise themselves as self-employed but really are unemployed or at least under-employed.’

It comes at a time when there are said to be 461,000 vacancies in the UK.

John Philpott, of the Chartered Institute of Personnel and Development, said: ‘I do not think there has been a sudden surge of entrepreneurial zeal. This is people who cannot get a job picking up bits and pieces of work.

‘It is a sign of economic weakness, rather than strength.’

Vicky Redwood, chief UK economist at the consultancy Capital Economics, said the jump is likely to reflect people ‘resorting to working for themselves.

Yesterday the Employment Minister, Chris Grayling, insisted the latest figures show ‘some signs that the labour market is stabilising’ but said the increase in unemployment was ‘unwelcome.’

It’s yours and you do not know it.  Unclaimed money!

More and more money is going unclaimed. But how can you see if you are owed any money?

David Koch from sunrise gives you the best options.

In conjunction with World Children’s Day, Hartamas Shopping Centre (HSC) and Yuber, which provides child training services, organised the Kids Marketplace recently to encourage the entrepreneurial spirit in youths.

The highlights at Kids Marketplace included the Kids Entrepreneurship contest, Cashflow 101 for Kids Challenge, workshops by Yuber and a green bazaar.

A total of 39 teams comprising 78  youngsters participated in the Kids Entrepreneurship contest for the chance to win holiday packages, Yuber scholarships and the grand prize of an Asus Notebook.

Participants  who were grouped under the junior (aged 8-12) and senior (aged 13-18) categories competed for the Best Display, Most Creative and the Most Promising Young Entrepreneur Awards.

The Most Promising Young Entrepreneur, in particular, were judged based on creativity and leadership skills, as well as the ability to make the most profit from an undertaking.

Read the rest of this entry »

What do the rich and famous have in common that others are missing?

Dr. Denis Waitley, shares the answer from his broad knowledge in self-development, high performance and personal success that he has gained from helping Super bowl, Olympic Champions, NASA astronauts, the US Army, foreign governments as well as educators and youth groups around the world.

Waitley, the bestselling author of The Psychology of Winning and The Seeds of Greatness, says the secret behind the successes of famous names such as Steven Spielberg, Walt Disney, and even William Shakespeare is passion.

He saves some other examples:

Read the rest of this entry »