Three Common Errors Twentysomethings Financially Commit

When I graduated in my early twenties last five years ago, I could never be more happy. I 

couldn't wait to start on my new job and splurge my first year of finances on things I'd love 

to have that I couldn't afford. Of course, I had to pay off my college loan.

I knew that by the second year of my non-formative years, I had to do something for myself before I am done working in my industry.

Not Investing In Anything (Including Retirement)

One common error we youngsters often commit is not to contribute to my retirement as early as I can. I'm about 26 now, and I'm not really financially troubled despite having a son. 

I know retirement is far away. But my compound interests would do so much for me if I 

invested money in my ISA or other investments, which I did anyway.

And so should you.

Following Product Trends

During college, you see your more well-off peers have the latest gadgets or at least the convenience of digital tools to help them research. During my first year out, I purchased the newest, fastest Apple iPhone out in the market. I was supposed to follow through with the latest until I realised that every young professional I worked with was following this expensive and non-productive trend.

Following product trends is only helping the company and not you. As their value wears out completely in just a single year, they're the most useless investment you'll inject your hard-

earned pennies in.

No Emergency Funds

You know during college when we used to keep some money from our allowance into a sock or back compartment of a drawer for those weekends off or a date with a prospective somebody? Well, that's what an emergency fund is. Why many of my generation forgot about these emergency funds, I don't know. But I suspect it's due to a lack of dates.

But there's always time to place money in an emergency fund. The EF will help you pay off some bills or contribute to retirement. Despite having insurance, liquidated money on hand is a better option during health-oriented mishaps that can happen to you at any time.

Britain Must Introduce New Taxes For Diesel Cars In Britain

Looking at Britain's sinful pollution levels, it's proper that the UK introduce additional taxes for diesel car entries in the country. Only for retail purposes of course. 

Following the huge Volkswagen scandal that led to the recollection of thousands of cars and billions of pounds in environmental penalties, the UK is bound to pay additional money for carbon emissions if it would not resolve its pollution problems.

Analysts at Policy Exchange believe it is high time for the UK government to introduce a £800 pollution tax for the sales of new diesel cars. Air pollution must be reduced in the United Kingdom or else.

“London and many of the UK’s other major cities are facing an air pollution crisis, with residents exposed to illegal and unhealthy levels of NO2 pollution,” said Richard Howard, head of environment and energy at Policy Exchange. “If we are to clean up air pollution, then government needs to recognise that diesel is the primary cause of the problem, and to promote a shift to alternatives.”

Howard said: “I know the government is thinking hard about this.” He said increased vehicle excise duty [VED, or ‘road tax’] on new cars was preferable to increasing the tax on diesel fuel or banning diesels from city centres: “It needs to be done in a way which does not unduly penalise existing diesel drivers, who bought their vehicle in good faith, and gives motorists sufficient time to respond.”

The Most Hidden Financial Transactions From Partners

Bloomberg Business created a study and poll that surveyed the young and elderly about the personal finance product they have hidden from their partner.

About 13 million Americans were found to have hidden a bank or credit card account from their spouse or live-in partner. Younger people are likely to hide their personal finance secrets from their partners.

According to CreditCards.com's Senior Industry Analyst Matt Schulz, millenials are more comfortable talking about their finances given the proper environment and platform.

According to Schulz, the findings were shocking. With over millions of Americans hiding their personal finance accounts from spouses, it could do some "real damage in a relationship" in terms of trust and teamwork.

The survey ran from January 7-10, 2016.

Schulz added that budgets can only function between two people if both respect and follow the budget. If both parties do not know exactly what's coming in and going out, it can cause future troubles, according to Schulz.

To keep your finances and relationship in check, the following is advised:

• Have a sit down with your partner and talk about your finances
• Never be afraid not to share technical troubles you find with your finances.
• Communicate often about your financial plans
• Avoid complaining, provide a solution.

The Huge Role Of International Finance To The Climate Change Talks

The COP21 in Paris looks at finance as its leading obstacle that blocks all possible efforts for climate change. But finance experts such as University of Bath Chair in Environmental Economics Michael Finus beg to differ.

Finus said it is the world's dependence on fossil fuels must end and politicians must deliver their promise. Meanwhile, the financial solutions he proposed can be effective.

Trade Sanctions

Finus pointed out the Montreal Protocol saved the world's Ozone Layer by reducing and ultimately phasing out the use of CFC gases that caused huge holes in the ozone layer. The result had helped the ozone layer recover despite the replacement HFC still adds to the greenhouse effect.

Finus explained that Montreal worked because of the trade sanctions it imposed to countries that did not join the environmental treaty. But it also worked because America, one of the world's biggest economies, had initiated the treaty.

Correlating Border Tax/Foreign Aid With Emissions

The Paris climate agreement will have tariffs posted on all imports produced in countries with high greenhouse gas emissions. The tax adjustment based on emissions will help reduce the eco-dumping that negatively affects members of the agreement.

Technology sharing or direct payments would be the best choice to help development and reduce eco-dumping and ultimately emissions.

International Deposit System

Industrialised nations may find the fines for emissions minimal. Finus proposed that developed nations who violate agreements formed in Paris should have the interest rates of their deposit to a agreement members-made fund frozen until they have complied with the requirements.

Three Reasons I Tend To Keep My Money Next To Myself

Hey, I use ATMs. I deposit money in banks. I use traditional checking accounts. I also use Paypal and other online couriers to send and receive money. I'm not a person likely to have digital paranoia when it comes to digital finance, let alone digital currencies, right?

Truth be told. I am.

Hacking

The digital world is filled with hackers and anybody could be a hacker if they needed to be. People are looking over your money when you invest, deposit, send money or buy from online shops. Some exploit some errors to gain access to the system mainframe where they can easily exploit our credentials, just like what happened to JPMorgan Chase & Co.

Digital Errors

Those costly digital errors will make our lives worse with hackers. A simple error, such as the web page timed out when you just clicked 'buy' in online shops and used a courier to pay could cost you money that couldn't be returned because well, that's an error.

Peace of Mind

I keep my money just next to me. I buy some items that I think would increase in value over time. I don’t keep them next to me because you know, inflation. But it gives me peace of mind when I know my money is safe with me and not in some ATM or system where my money can lose value.

The Third Fiscal Apocalypse Might Be Upon Us

Investors are spooked by China's extreme downturn in the market. The International Monetary Fund had announced a great series of prophecies regarding another possible downturn for the global economy that could drag us down back into the Third Great Recession.

According to Bank of England Chief Economist Andy Haldane, market troubles and Chinese economic concerns are just the next chapters in an on-going story regarding the Third Fiscal Apocalypse.

The Slowest Growth Since 2008

The IMF said global growth is at its slowest in 2015 with a possibility of 3 per cent growth reduction, which would be painful for many emerging markets with corporate outfits.

The US' increased interest rates, one of the many catalysts of the possible depression according to analysts, has "sucked out emerging economies" that returned money into the higher-ups of society. This has devalued the emerging market currencies.

However, because of huge foreign reserves initiated by the increased interest rates, the downturn's impact was diverted, said other analysts with a more positive approach.

The New Reality

Itau Chief Economist Ilan Goldfein from Brazil said to raise Brazil's financial status, which was pushed down the junk by Moody's, would mean to work with the budget deficit and "new realities".

He said Brazil would need to adapt to the new terms of trade that offers different commodities. The economic head is pertaining to the falling oil prices.

South America is hit by widespread devaluation after every nation's primary resource had a value downturn earlier this year.

Experts advise that emerging markets needed adaptability and government market stimulation to uphold and cushion the impact of impending trouble.

Three Gift Ideas For Yom Kippur!

Almost every Briton has a Jewish friend. In a multi-cultural country, it can be easy to offend people of different beliefs without any intention. Let's avoid that. But let's also avoid giving something too expensive. Being mis-informed, even the brightest Briton may just get something expensive but useless or meaningless this upcoming Yom Kippur. These three gift ideas guarantee you give something meaningful even on a budget!

1. Shabbat Candle Holders

Jerusalem fitted Candlesticks or aluminium flower candle holders are beautiful to look at in any Jewish home. Jewish families value their candle holders as it is an integral part of any ceremony, including Yom Kippur. Giving these as gifts save you hundreds of pounds because £1 is the mall price per Shabbat candle holder. You could get a premium one for about £5 each.

2. Kosher Gift Basket

You could never go wrong giving food items to Jewish families during Yom Kippur and the Kosher Gift Basket is the best way to give a batch of crackers, teas, chocolates, cookies or anything else edible. If you're celebrating with a Jewish family pot-luck style, then the Kosher Gift Basket is all you will need!

3. Food and Wine

If all else fails, bring some food and wine. Personally-cooked food Jewish families appreciate completely. As it is made from love and passion, you give a part of yourself at a lower cost too!