The_Pharoahs_Dream_-_Savings_Comparison

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 UAE – Pork not sold in butchers – Career: Visiting or operating as expatriates Expatriates should think about when they return to home country Expatriates gain benefits like school fees paid for