Apprendre avec le sourire

Did you know that there are 6 unique money personalities, with each one playing a heavy role in your ability to handle and manage money? In this article we’re taking a look at each one, helping you not only identify which category you fall into but also recognize where you can improve your money management practices.

What is a financial personality and how does it affect money management?

A financial personality looks at the big picture of how you handle your money. From how you think about money, the views that guide your actions, and the actions that stem from your beliefs. It's not just about how much money you have; it's also about how effectively you handle the money that comes into your life.

Money management is a learned skill so don't feel disheartened if this doesn't come naturally to you. Sure starting early influences financial habits, but that doesn't mean that these skills can't be learned over time.

These financial personalities are built around a set of traits and characteristics that shape a particular style of money management. They're designed to help us become more aware of our behavior, keep our personalities in check when red flags trigger a knee-jerk reaction and assist us in achieving a healthier financial future.

These personalities coincide with the five main personality traits that are often used when reviewing someone's financial status: conscientiousness,  neuroticism, extraversion, agreeableness, and openness to experience. Used by researchers, these traits help to shape how one might handle money. 

Each top 6 financial personality reflects traits of the following

The six types of financial personality are based on your personal financial habits and include The Saver, The Spender,  The Investor, The Dreamer,  The Optimist, and The Pessimist. Each financial personality speaks volumes about how one views and acts with money.

1. The Saver

If you're a saver, you've already established yourself as someone who is good at saving money. You have a natural ability to save money and concentrate on long-term objectives. You know exactly how much money you want to save each month, and you stick to your plan even when tempted away from it.

You are practical with your savings as a saver. One of the things you might have done is to make direct debits from your bank account to a savings account or wealth management solution.

2. The Spender

Spenders are impulsive and rash. They're not great at handling money, either. They don't save well, invest, or budget. They're more interested in ways to generate income versus growth. You're likely a spender if you struggle with these financial decisions.

Spenders are focused on short-term pleasures and luxury items. They find it difficult to save since they're so concentrated on pleasuring themselves right now.

3. The Investor

You can take advantage of investment opportunities as they arise, even if they appear risky or complex. You keep an eye on the market and stocks to make sure that any investments that aren't performing are removed from your portfolio. They're down for both aggressive or conservative investments.

Investors are enticed by the potential return on investment; they desire high returns without too much risk—so, if they see two alternative investment options with equal potential gains but one with greater risk, they'll pick option B every time.

4. The Dreamer

Dreamers are usually content with what they have and understand how to manifest their desires. The difficult part is not allowing emotions to control spending or budgeting decisions. Instead, dreamers develop a plan and stick to it - no matter the temptation.

If you consider yourself a Dreamer, your financial habits are likely to be the ones that will make you financially successful. Dreamers are usually intuitive and have a clear idea of what will make them happy in relation to their finances. They come up with creative ways to put their plan into action.

5. The Optimist

Optimists are individuals who believe that good things will occur. They tend to have a happy disposition and see the silver lining in every situation. Optimists are more likely to be wealthy financially than other personality types since they save money and make investments, take calculated risks, and generally have a talent for making money.

Surprisingly, optimists tend to have not only better physical health and happiness but also greater financial success! It may sound too good to be true, but there is data to back this claim up. Studies show that optimism and wealth often go hand-in-hand. For example, one study found that people who are optimistic about the future make more money than those with a negative outlook.

6. The Pessimist

The last distinctive financial personality on the list is the pessimists. They are always looking for ways to save money, and they don't just stop at finding opportunities. Financial wellbeing is important and they always anticipate needing to save. If you're a pessimist, then you're probably thinking of ways to cut costs right now. 

Although pessimists might come across as boring, they have great financial stability because they never spend money on unnecessary things and shy away from risks.

Pessimists always think ahead. The Boy Scouts of financial personalities, they're cautious and they plan for the worst-case scenario so that they'll be ready to handle it if it ever happens.

How these financial personalities can help with managing money

Understanding which category (or categories) you fit into will give you a greater understanding of how you might react in a situation demanding your attention. 

With greater self-awareness comes a greater understanding of how one might make decisions pertaining to their finances. If you want to make more informed decisions about your finances, begin by taking the time to learn about your relationship with money.

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In the complex world of economics, recessions are a common concern, and knowing what they are matters. But what exactly is a recession, and why is it important to understand? A recession is a significant economic downturn that affects individuals, businesses, and entire nations. It's more than a financial term; it's a real-life event that can impact us all.

In a world where economic stability matters to us all, this knowledge is essential. In this article, we'll explain what a recession is and why it's important for everyone, whether you're an economist or just someone trying to navigate the modern world. Let's unpack what a recession is and explore why it matters.

The economic aspects of a recession

To grasp the significance of a recession, let's take a look at its economic aspects. We'll begin by looking at key economic indicators, like Gross Domestic Product (GDP).

GDP is like an economic health check. It measures the total value of goods and services produced in a country. When GDP shrinks, it's often a sign of a looming recession. By monitoring GDP, economists gain a better understanding of economic ups and downs.

Economic growth, measured by GDP, plays a vital role in preventing recessions. It creates jobs, helps businesses grow, and boosts consumer confidence. It goes without saying that a strong economy is better at handling tough times.

How recessions affect businesses and industries

When a recession hits, it affects businesses and industries in various ways:

Decreased consumer spending

In a recession, people usually cut back on non-essential spending. This hurts businesses that rely on such purchases.

Decline in production and sales

Less spending leads to less production and fewer sales. Businesses may end up with too much inventory and unused equipment.

Job losses and unemployment

Businesses struggling in a recession often have to lay off workers. This leads to more people without jobs, which is tough for families and communities.

Bankruptcies and closures

Some businesses can't survive a recession's pressures and go bankrupt or close. This can affect entire industries.

The COVID-19 pandemic showed how a global recession can be triggered. Lockdowns, travel restrictions, and supply chain problems disrupted businesses worldwide, requiring governments to step in and help.

Identifying the causes and indicators of a recession

By understanding these causes and economic indicators, people and policymakers can take timely action to prevent or deal with recessions and highlight the value of informed decision-making in our connected global economy.

Causes of a recession

Recessions are not random occurrences, they often stem from a combination of economic factors, financial market fluctuations, and global events. By understanding these causes, people are often better able to anticipate a looming recession and mitigate its effects. 

First and foremost, recessions often have roots in economic imbalances, such as excessive debt, inflationary pressures, or overproduction. When these imbalances become unsustainable, they can trigger a recession.

On that note, the health of financial markets and the housing sector is closely tied to the overall economy. The bursting of housing bubbles and disruptions in financial markets, like banking crises, can set the stage for economic downturns.

And lastly, events like geopolitical conflicts, natural disasters, or global health crises, as witnessed during the COVID-19 pandemic, can have ripple effects that lead to recessions. After all, the global economy is interconnected. 

Economic indicators that signal a recession

Economic indicators act as early warning signals, helping us identify the onset of a recession. These act as data points that provide insights into the state of an economy and serve as barometers for assessing economic health.

Below are several examples of key indicators:

Yield curve inversion

This occurs when short-term interest rates surpass long-term rates, often signalling an impending recession.

Unemployment rate

A rising unemployment rate can indicate economic distress as businesses cut jobs in response to slowing growth.

Consumer confidence index

A drop in consumer confidence can foreshadow reduced spending, which can lead to economic contraction.

Stock market performance

Plummeting stock market indices can signal investor pessimism about future economic prospects.

Recessions vs depressions

We’ve all heard of The Great Depression in the 1930s, but was this a recession or a depression? 

A depression is a severe and long-lasting economic downturn. It's marked by extensive declines in various economic sectors, often lasting for years or even decades. Much like recessions, depressions bring widespread unemployment, significant drops in consumer spending and business investments, and a massive decrease in GDP.

However, they differ in a number of ways, namely the magnitude and duration, the impact it has on business, jobs, and the GDP, and, typically, how the government responds. 

The key difference between a recession and a depression is how bad and how long they last. Recessions are shorter and less severe, typically lasting a few months to a couple of years. Depressions, on the other hand, are much more extreme and can drag on for years or even a decade or more.

Depressions also hit businesses, jobs, and GDP much harder than recessions. In a depression, businesses struggle to survive, unemployment soars and GDP takes a nosedive to historic lows. While recessions hurt, their effects are usually less severe.

Governments respond differently to recessions and depressions. Depressions often lead to major government intervention, including big stimulus packages, bank rescues, and public projects to kickstart the economy. Recessions may also prompt government action, but it's usually not as extensive or urgent.

How to prepare for a recession

Unfortunately, recessions form an integral part of economic cycles and are inevitable. Fortunately, there are some steps individuals can take to better buffer themselves against the harsh effects of an impending recession. 

Here are two of the most important steps:

Build an emergency fund

Start by creating a sturdy emergency fund. This fund should cover at least three to six months' worth of living expenses and acts as a safety net in case of unexpected job loss or financial crises.

Minimize debt

Simplify your finances by reducing debt and cutting non-essential expenses. Clearing high-interest debts and trimming unnecessary spending can free up resources to tackle more essential needs.

Securing income and job stability becomes equally important as the economy faces uncertainty. Here are several strategies to ensure you maintain job security. 

Upskilling 

Invest in your skills and stay adaptable to changing job demands. Continuous learning and gaining skills in demand boost your employability and resilience in a shifting job market.

Networking 

Cultivate a robust professional network. It can provide job leads, referrals, and opportunities when times are uncertain. Networking increases your chances of finding new employment or additional income sources.

Diversifying sources of income

Explore multiple income streams beyond your primary job. Consider part-time work, freelance opportunities, or passive income ventures. These can help soften the blow of a recession.

In an unpredictable economic world, these steps give individuals and households financial preparedness and adaptable income strategies and can provide a sense of security and resilience in tough economic times.

Closing thoughts

Understanding recessions, its indicators, and its real-world impact is essential. Key points include recognising economic aspects like GDP and understanding how recessions affect businesses. 

Identifying causes and signals empowers proactive responses while distinguishing recessions from depressions clarifies their severity and the need for government intervention. Practical steps, like building emergency funds and upskilling, boost resilience. In an uncertain economic world, knowledge and preparedness are our reliable allies for navigating recessions successfully.

Tap partners with Total Processing to allow Visa debit deposits, improving its customer’s experience

Tap, the dynamic fintech platform can now offer its customers the ability to top up their accounts via Visa card deposit thanks to its new partnership with Total Processing, a leading payments specialist.

This strategic partnership offers Tap customers a new and improved way to effortlessly replenish their accounts, further enhancing the platform's reach, accessibility and convenience.

Renowned for its crypto-inclusive financial solutions, Tap provides a user-friendly platform to allow its customers worldwide to easily manage their crypto and fiat assets. The company is thrilled with its latest collaboration with Total Processing, an award-winning payment processing company that focuses on a customer-centric approach to offer a seamless payment solution.

By integrating Total Processing's innovative payment offering, Tap extends this enhanced service to hundreds of thousands of customers, allowing them to directly fund their Tap accounts using Visa cards. Moreover, Tap continues to provide the flexibility of Mastercard and bank transfer deposit options, serving users in over 40 countries.

The decision to partner with Total Processing aligns with Tap's dedication to delivering a superior user experience. In response to some users experiencing issues with Visa card deposits, the fintech platform has seamlessly transitioned to Total Processing as its new trusted payment processor for frictionless Visa card loading. This move underscores Tap's commitment to delivering high-quality financial services to its valued customer base.

This enhancement is effective immediately and extends across all the 40+ countries where Tap operates. The company remains dedicated to delivering professional and world-class financial solutions, ensuring its users have access to a seamless and efficient experience.

Kriya Patel, CEO of Tap, commented, "Tap is highly committed to providing a best-in-class offering for our customers, and Total Processing delivers the perfect partnership to help achieve this goal. Tap looks forward to working closely with Total Processing to further enhance our customer-focused, innovative payment solutions."    

Alex Leigh, Co-founder of Total Processing, added: "We are excited to join forces with Tap in this strategic partnership, as it aligns perfectly with our commitment to customer-centric payment solutions. This collaboration empowers Tap's users with seamless Visa card deposit options, reinforcing our dedication to a frictionless payment experiences."

-ENDS-

About Tap
Tap is a pioneering force in the convergence of the cryptocurrency economy and traditional financial systems, striving to establish an equitable, accessible, and transparent financial landscape. Since its inception in 2018, Tap has been guided by the bold vision that individuals worldwide should enjoy effortless and secure management of their fiat and cryptocurrency assets. Presently, Tap offers a reliable and user-friendly platform that harmoniously integrates various financial services into a single, convenient hub.

For more information on Tap, visit: www.withtap.com

About Total processing
Founded in 2015, Total Processing is a leading provider of intelligent payment solutions that enable businesses to streamline their payment workflows, reduce costs and boost revenue. The company offers a range of payment processing services, including recurring payments, 198+ alternative payment methods, an agnostic payment gateway, risk prevention tools and in-depth transaction data, all managed within a unified platform.
With a focus on its customers, it provides adaptable solutions and a user-friendly interface to ensure smooth payment processing for its merchants.

For more information on Total Processing, visit: www.totalprocessing.com

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‍Tap Global Group Plc (AQSE: TAP), the regulated cryptocurrency app bridging the gap between traditional finance and blockchain technology, announces that is ceasing new UK based customer onboarding until completion of a review to fully comply with the Financial Conduct Authority (FCA) Regime of Financial Promotions, which will be introduced on the 8^th October 2023.  

In addition, Tap has been conducting a detailed review of its existing client base to assess whether clients are investment professionals or certified sophisticated investors that it may be permitted to continue to engage with in respect of the continued offer of its cryptoasset services that constitute regulated cryptoasset promotions.

Tap is fully committed to ensuring customers benefit from the assurance that Tap’s services are being delivered within a fully regulated, compliant environment and in accordance with best practice regulatory standards and requirements. Tap is reviewing all marketing, onboarding, customer protection and suitability assessments to ensure there is full adherence with the FCA Financial Promotion Regime.  

In addition, Tap is partnering with an FCA authorised firm to review and approve all relevant marketing material and onboarding processes to further validate a compliance first approach to the services offered to Tap customers.  

Tap will continue to provide further updates and advise UK customers when services are ready to be resumed.        

About Tap Global PLC

Tap’s group of company’s provides a fully regulated cryptocurrency app bridging the gap between traditional finance and blockchain technology. Tap Global Limited is regulated by the Gibraltar Financial Services Commission, as a distributed ledger technology (“DLT”) service provider.  

Through a single app, Tap’s over 200,000 users can access several major cryptocurrency exchanges and, utilising Tap’s proprietary Artificial Intelligence middleware, customers benefit from best-execution and pricing in real time. Through the Tap card, users can also convert their cryptocurrencies to fiat to spend at more than 37 million merchant locations worldwide.  

Tap is one of only a handful of unified solutions operators fully regulated to provide DLT services and was the first cryptocurrency FinTech company approved by Mastercard in Europe.  

Learn more: www.withtap.com  

Any questions regarding this document or application of any law, rule or regulation can be referred to us via email at Compliance@tap.global.

Si vous débutez dans le monde fascinant de la finance, ne craignez rien, nous sommes là pour vous aider. Avec de nombreux nouveaux termes et concepts évoqués, il est courant de manquer certains fondamentaux. Dans cet article, nous allons examiner certains des acronymes et termes les plus fréquemment utilisés, en les rendant accessibles et compréhensibles. Laissez ce guide fiable vous aider à naviguer à travers le monde souvent déroutant du jargon financier.

TAP (Taux Annuel en Pourcentage)

Commençons par le TAP. Cet acronyme signifie Taux Annuel en Pourcentage et représente le taux d'intérêt annualisé que vous payez pour emprunter de l'argent. Lorsque vous empruntez des fonds, le TAP inclut non seulement les intérêts mais aussi les frais supplémentaires associés au prêt ou au produit de crédit.

Comprendre le TAP vous permet de comparer différentes options de prêt et d'évaluer le coût réel du crédit. Ainsi, la prochaine fois que vous envisagez de contracter un prêt, faites attention au TAP pour prendre une décision éclairée.

GAB (Guichet Automatique Bancaire)

GAB signifie Guichet Automatique Bancaire et est l'appareil pratique qui vous permet de retirer de l'argent de votre compte bancaire. Bien que les GAB soient de moins en moins utilisés dans la vie quotidienne, leur avantage réside dans les voyages. Avec votre carte Tap directement liée à plusieurs options fiat et crypto, il suffit de passer la frontière et de retirer la devise locale.

BACS (Bankers Automated Clearing Services)

BACS signifie Bankers Automated Clearing Services. Cela peut paraître compliqué, mais en réalité, c'est un système au Royaume-Uni qui permet de réaliser des paiements électroniques d'un compte bancaire à un autre.

Il simplifie le transfert d'argent entre les comptes, rendant les transactions plus efficaces. Que vous payiez vos factures, envoyiez de l'argent à un ami ou effectuiez des paiements réguliers au siège de la banque, BACS garantit que votre argent se déplace de manière fluide et sécurisée.

BIC (Business Identifier Code)

BIC signifie Business Identifier Code ou Bank Identifier Code, et son but est de fournir un système d'identification fiable et reconnu internationalement pour les banques et les institutions financières, rationalisant les transactions et améliorant l'efficacité globale dans le secteur financier.

Lorsque vous faites des affaires avec différentes banques, en particulier lorsqu'il s'agit du siège de la banque, le BIC sert de code unique qui garantit une identification précise des institutions impliquées. Ainsi, la prochaine fois que vous envoyez des fonds au siège de la banque, soyez assuré que le code BIC facilite une transaction fluide et sécurisée.

Dividende

Maintenant, plongeons dans les dividendes. Un dividende est une distribution des bénéfices d'une entreprise à ses actionnaires. Lorsqu'une entreprise réalise un bénéfice, elle peut choisir de partager une partie de ces bénéfices avec ses actionnaires sous forme de dividendes. Donc, si vous êtes actionnaire, les dividendes sont un moyen pour vous de gagner un peu plus d'argent de vos investissements.

ACF (Autorité de Conduite Financière)

L'ACF est comme le chien de garde financier du Royaume-Uni. ACF signifie Autorité de Conduite Financière. Ce sont les régulateurs qui surveillent l'industrie financière pour protéger des consommateurs comme vous. Leur travail consiste à s'assurer que les institutions financières respectent les règles, maintiennent la stabilité de l'industrie et favorisent une concurrence saine entre les services financiers. Ils veillent sur vous en matière de finances.

La SEC est l'équivalent américain (voir plus tard).

Capitaux Propres

Le terme capitaux propres se réfère à l'intérêt de propriété dans une entreprise ou un bien immobilier. En ce qui concerne les actions, cela représente les parts d'une entreprise que vous, en tant qu'investisseur, possédez. Dans le monde de l'immobilier, les capitaux propres sont la différence entre la valeur marchande d'un bien et l'hypothèque restante. Ainsi, pensez aux capitaux propres comme à votre part dans quelque chose de valeur.

Taux de Change

Ah, le taux de change toujours fluctuant. C'est comme une danse entre les devises. Un taux de change fait référence à la valeur à laquelle une devise peut être convertie en une autre. Il est crucial de comprendre les taux de change, en particulier si vous traitez des transactions internationales. Ils peuvent affecter le coût des biens et services lorsque vous utilisez différentes devises.

IBAN (Numéro de Compte Bancaire International)

IBAN signifie Numéro de Compte Bancaire International. C'est un identifiant unique pour les comptes bancaires utilisés à l'international. Pensez-y comme à un code spécial qui aide à simplifier les transferts d'argent internationaux. Avec un IBAN, vous pouvez facilement identifier un compte à l'international, rendant ces paiements internationaux un peu plus fluides.

La structure d'un IBAN peut légèrement varier d'un pays à l'autre, mais elle se compose généralement d'un code de pays, de deux chiffres de contrôle et d'une série de caractères alphanumériques représentant la banque et les détails du compte. La longueur d'un IBAN peut également varier d'un pays à l'autre.

ISA (Compte d'Épargne Individuel)

L'ISA est un compte d'épargne et d'investissement à avantages fiscaux qui permet aux individus d'épargner et d'investir de l'argent sans payer d'impôt sur le revenu ou de taxe sur les plus-values générées dans le compte. C'est l'équivalent au Royaume-Uni d'un Roth IRA (voir plus tard).

Inflation

L'inflation se produit lorsque le niveau général des prix des biens et services augmente avec le temps. Cela signifie que votre argent peut vous acheter moins qu'auparavant. Alors, gardez un œil sur l'inflation, mes amis, car elle affecte votre pouvoir d'achat et combien vous obtenez pour votre argent durement gagné.

Fonds Commun de Placement

Explorons les fonds communs de placement. Un fonds commun de placement est comme un pot commun financier. C'est un véhicule d'investissement qui rassemble l'argent de plusieurs investisseurs pour créer un portefeuille diversifié d'actions, d'obligations ou d'autres titres. C'est un moyen pour des investisseurs comme vous d'accéder à un portefeuille géré professionnellement sans les tracas de sélectionner des titres individuels.

Revenu Net

Le revenu net, également connu sous le nom de bénéfice net ou de gains, est un terme financier courant. Il représente le montant d'argent restant après avoir déduit toutes les dépenses du revenu total d'une entreprise ou d'un compte bancaire. C'est une mesure clé de la performance financière et vous indique combien d'argent une entreprise gagne après que toutes les factures soient payées.

Remise

La remise est l'art d'envoyer de l'argent à travers les frontières. La remise fait simplement référence au transfert d'argent d'un pays à un autre. Que vous soyez un particulier envoyant de l'argent à la famille à l'étranger ou une entreprise effectuant des paiements internationaux, la remise est le terme qui capture ces transactions transfrontalières. La remise est le plus souvent utilisée pour décrire les fonds envoyés par quelqu'un dans un pays développé à des membres de la famille dans un pays en développement.

SEC (Securities and Exchange Commission)

La Securities and Exchange Commission est l'agence de réglementation aux États-Unis chargée de faire respecter les lois fédérales sur les valeurs mobilières. La mission principale de la SEC est de protéger les investisseurs, de maintenir des marchés justes et efficaces, et de faciliter la formation de capital. Elle réglemente et supervise diverses entités, y compris les bourses de valeurs, les courtiers et négociants en valeurs mobilières, les conseillers en investissements, et les fonds communs de placement.

SEPA (Single Euro Payments Area)

SEPA, ou Espace unique de paiement en euros, représente un tournant majeur pour les transactions en euros au sein de l'UE et de l'EEE. Il harmonise les systèmes de paiement, rendant les transactions internationales aussi simples que les transactions nationales.

Avec les paiements SEPA, vous pouvez envoyer et recevoir des paiements en euros dans les pays participants sans avoir à gérer des systèmes séparés et des frais supplémentaires. Il favorise l'efficacité, la rapidité et le rapport coût-efficacité, simplifiant votre vie financière et favorisant l'intégration économique.

Code SWIFT (Society for Worldwide Interbank Financial Telecommunications)

SWIFT signifie Society for Worldwide Interbank Financial Telecommunication. C'est comme le réseau de communication secret que les banques utilisent pour envoyer des messages financiers sécurisés, y compris des instructions de paiement, les uns aux autres. Les codes SWIFT garantissent que ces messages atteignent leurs destinations de manière fiable et efficace. Pensez à un code SWIFT comme à l'autoroute de la communication financière, reliant les institutions financières du monde entier.

Conclusion

Comprendre les termes financiers est crucial car cela vous permet de prendre des décisions éclairées concernant votre argent. Que vous planifiiez l'avenir, gériez des investissements ou simplement cherchiez à atteindre une stabilité financière, saisir les termes clés est essentiel. Armé de connaissances, vous pouvez naviguer dans le paysage financier avec confiance et faire des choix judicieux qui s'alignent sur vos objectifs.

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