Before the Chinese regulator stepped in this week with measures against the insurance industry aimed at curbing the countrys $1 trillion worth of capital outflows in 2015, hundreds of thousands of mainland Chinese had been flocking to Hong Kong to buy policies using their China-issued UnionPay credit or debit cards.
Using the cards enabled them to get around Chinas controls that officially limit citizens from converting no more than $50,000 per year and sending it abroad. By swiping the cards at insurers such as AIA Group Ltd., Prudential Plc, and Manulife Financial Corp. in Hong Kong, mainland residents bought policies denominated in Hong Kong dollars and U.S. dollars -- averaging $5
In today's world financial goals are important. Whether saving for a car, home or even college tuition for your kids, you need a solid plan to hit those goals. Advice can be the best thing for building your foundation for a plan or impacting the plan you already have set forth. Read ahead and find some help that can make the difference you need.
You should never risk more money on a trade than you can safely afford to lose. If you lose any money it should not have the potential to destroy you financially, this means that. You have to make sure to protect any equity that you might have.
Minimize your credit card accounts to just one account. Having more than one card can lead
One of the most difficult things for most adults is finding a way to effectively manage their finances and make sure that they can make all their ends meet. Unless you're earning a couple hundred thousand dollars a year, you've probably been in a situation where money is tight. The tips bellow will give you ways to manage your finances so that you're never again in a situation like that.
A great tip for anyone interested in finding extra money each month to put toward existing debts is to make a habit each day of emptying your pockets or purse of change received during cash transactions. You will be amazed by how much money actually accumulates over time, and you may find yourself pa