The Pharoahs Dream - Savings Comparison
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- Date Submitted: 05/27/2012 12:51 PM
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The Pharaoh’s Dream
Introduction – look into the dream
Look at the meaning behind it.
2 main concepts are Saving
Budgeting
Approach:
Define both of the concepts and integrate them into modern day life
Sub sections – individual/personal and macro economic factors
Savings
Saving: A flow of money that contributes towards a household’s savings.
Savings: The total value of all financial assets that a household has at a particular point in time.
UK
• 0.25% - Savings account interest rate (HSBC)
• 3% - No savings account (DWP 2010)
• 28% - No savings (DWP 2010)
• 91% - Have a current account
• Average of £216 kept at home
• 1 out of 10 does not trust the banks or any other FI
USA
• 0.8% - Savings Account interest rate (HSBC)
• Considered as a nation of spenders
• $1,488 - Current net savings per person in US
• what diff regulations for operating (eg diff
activities prohibited/permitted)
Examples
– Currency:
Diff currency, transactions affected by exchange rate changes,
diff inflation rates between countries -> consider pricing issues
Issues involving sourcing funds and investing funds.
– Configuration:
Set of accounts for each country, complex banking arrangements
Issues with conducting business abroad, implication on PF structure
Same when employing, eg agents protected in diff ways in diff country.
– Communication:
Issues of lang -> Coordination + Control.
Dealing with remote locations
Time Difference
–
Cross-Border:
Moving abroad -> move funds to; acquire assets, enter liabs.
Expatriates -> resolve social security, pension contribution issues, double
tax agreements
Singapore - Chewing gum
China - One child per household China
California - dispensaries
–
Culture:
Overarching culture of foreign country
Business done with culturally diff people
Culture diff in beliefs, attitude and behaviors
Examples
Japan - Mobiles on public transport frowned upon
Saudi - Shops close for prayers...
Introduction – look into the dream
Look at the meaning behind it.
2 main concepts are Saving
Budgeting
Approach:
Define both of the concepts and integrate them into modern day life
Sub sections – individual/personal and macro economic factors
Savings
Saving: A flow of money that contributes towards a household’s savings.
Savings: The total value of all financial assets that a household has at a particular point in time.
UK
• 0.25% - Savings account interest rate (HSBC)
• 3% - No savings account (DWP 2010)
• 28% - No savings (DWP 2010)
• 91% - Have a current account
• Average of £216 kept at home
• 1 out of 10 does not trust the banks or any other FI
USA
• 0.8% - Savings Account interest rate (HSBC)
• Considered as a nation of spenders
• $1,488 - Current net savings per person in US
• what diff regulations for operating (eg diff
activities prohibited/permitted)
Examples
– Currency:
Diff currency, transactions affected by exchange rate changes,
diff inflation rates between countries -> consider pricing issues
Issues involving sourcing funds and investing funds.
– Configuration:
Set of accounts for each country, complex banking arrangements
Issues with conducting business abroad, implication on PF structure
Same when employing, eg agents protected in diff ways in diff country.
– Communication:
Issues of lang -> Coordination + Control.
Dealing with remote locations
Time Difference
–
Cross-Border:
Moving abroad -> move funds to; acquire assets, enter liabs.
Expatriates -> resolve social security, pension contribution issues, double
tax agreements
Singapore - Chewing gum
China - One child per household China
California - dispensaries
–
Culture:
Overarching culture of foreign country
Business done with culturally diff people
Culture diff in beliefs, attitude and behaviors
Examples
Japan - Mobiles on public transport frowned upon
Saudi - Shops close for prayers...