Thursday

Tips to manage your spending

As times get harder in this financial crisis, one should not spend hastily. Here are some tips to manage your spending while still enjoying life..

Tips on saving money on clothes:

1. Shop with cash (only!)
2. Hit the discount chains
3. Shop out of seasons
4. Look for online deals
5. Don't be lured by a sale
6. Shop trends carefully
7. Don't buy clothes which you already have
8. Shop consignment
9. Don't shop for fads (temporary in fashion)
10. Care for you clothings

Tips on saving money on food:

1. Create a grocery list and stick to it
2. Don't buy things just because they are cheap
3. Compare prices
4. Stick to your budget
5. Buy in bulk
6. Avoid processed food- convinient but expensive
7. Learn how to cook
8. Eat at home more often
9. Cut down on junk food and treats
10. Use cheaper ingredients for meals

Basically, shop for what you NEED and not what you WANT!

Friday

How AIG affected others- It's more than an Insurance Company

Ski Resort- AIG founder began Stowe Mountain Resort in Vermount in the 1940s.

Soccer Team- AIG will not renew its Manchester Utd sponsorship => what is this right! SO irresponsible :(!

Airplanes- International lease finance is one of the world's largest aircraft lessors

Real Estate- The firm owns of manages properties in more than 50 countries.

$429 Million Loss
Asset Management

$723 Million Loss
General Insurance

$40.4 Billion Loss
Financial Services
One of the greatest impacts of the Recession

Failure of the AIG

Deep Impact
IN Febuary, AIG circulated a report detailing how many people would be affected if the company were to go under. The scare tactic worked. AIG insures 180,000 entities, which collectively employ 106million people in the US alone. Among the list are tens of thousands of farms, hospitals and nonprofits. Stimulus spending? AIG says it insures every major infrastructure in America. Retirement savings? The company manages nearly 7million accounts. Aig itself employs 116,000. Yet a few hundred from it's Financial Services division devised the toxic deriavatives jeopardizing AIG- and the rest of us.
By Stephen Gandel and Barbara Kiviat.
Adapted from TIME