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Business and finance

Extracts from this document...

Introduction

Business and finance Intermediate Personal finance unit eight Assignment number-one Date Set-16/02/01 Date Due- 15/03/01 By Christine Reid The unit I have been studying involves learning about planning, managing and controlling my finance. As I have seen from class discussions and through the personal budget that I draw up. It took a lot of self-discipline and skill to plan my finance. Sometimes it gets so complicated that we need the help of experts to advise us about ways to plan, manage and control our finances. For this assignment I will have to do the following ~ 1 ~ To produce a guide for a young employed adult. 2 ~ This guide must contain information that will help him/her to understand: 2.1 ~ Why it is important to plan their finance. 2.2 ~ Where they can get advice to help them in their financial planning. 2.3 ~ What financial services are available from banks and other financial institutions. 2.4 ~ Most people need a loan of some sort, it will also be helpful if you can give them information about different types of borrowing and how they can use these loans. 2.5 ~ You also need to advice them about methods of ensuring accuracy of financial records. Planning, managing and controlling your finances. Step one ~ * Title page. * Introduction. * Plan. Step two ~ Why is it important to plan your finance? * Benefits. * Included own personal budget. Step three ~ Where they can get advice from? * Search for information. * Banks * Internet. * Citizen's advice centre. * Publications. Step four ~ Produce questionnaire to send to banks. Step five ~ What financial services are available from banks and other institutions? * Go to bank web site. Step five ~ Types of loans? * What APR means? * Visit banks web sites. Step six ~ Methods of accuracy? * Accurate presentation * Format of account. ...read more.

Middle

With this loan you would be able to have free insurance cover against your car failing it's MOT worth up to �750 a year. Platinum loan. The platinum loan is only available to platinum current account customers. With this loan you can borrow any amount from the range of �1,000 to �25,000 for almost anything you want. You can also spread the cost with fixed repayments and also the option to off lump sums from your account whenever you choice to. This platinum loan takes from 6 months to 5 years to repay but its your choice in how long you want to pay the loan back. Secured loan. If you are planning a larger purchase of more then �10,000 and you want to spread your repayments over more then 5 years then you should consider the secured loan. This secured loan means you can give up security for the money you borrow in the form of your home, you can spread your repayments over a long period, which should make your monthly repayments easier to manage. Professional studies loan. When your career calls for professional qualifications, the professional studies loan gives you the practice support you need. To ease the financial pressure, you can take money out as when you need it and delay repayments for up to 6 months after you finish your course. Graduate loan. After you have gained your degree and you need extra financial support to help you make your way through then a graduate loan is what you need. A graduate loan lets you borrow up to the total of �310,00 with fixed monthly repayments of up to 5 years. With this loan you also have the optional of an initial 4 months repayments 'holiday' to make it even easier to manager your finances. Career development loan. The career development loan can be used to finance vocational study or training courses of two years duration, or longer if the course has a year's supplied experience built in. ...read more.

Conclusion

For this assignment I am also going to compare TSB and HSBC bank so that I can see what bank offers the best deals on there types of financial services e.g. the types of accounts that they have on offer. Both TSB and HSBC have a large range of different types of accounts and the accounts that they both offer are as follows: * Select current account * Gold service account * Platinum current account * Mini ISA * Tessa ISA * Personal overdraft Both banks offer a range of different services for a particular type of current account that you want to open. For the select current account both banks give you �50 interest free overdraft, commission free travel money and a free current account card. Even though both banks provide the same service there is also a difference because TSB offers AA roadside assistance and HSBC offers card protection worth up to �12 a year. Another type of account that both banks offer is a gold service account and again both banks offer similar services. Both of these banks also offer Platinum current account, mini ISA, Tessa ISA and personal overdraft. Even though both TSB and HSBC offer the same type of services they also do have some difference. The HSBC bank has a Maxi ISA where as TSB doesn't provide this service. The TSB dose have a mini ISA but dose not have a maxi ISA. HSBC seem to do more current account and other services then what TSB dose. Both of these banks provide accounts, loans and other services like Internet banking and both provide, as much information on their web site that they think is relevant. With this assignment I have used a variety of different bank web site and I have found that TSB and HSBC were the best two web sites that produce me with the relevant information that was needed for this assignment. I also went onto Barclay's and Natwest web sites but there wasn't any relevant information. ...read more.

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