The History of England’s Spring Bank Holiday – Origins and Meaning

Bank holidays have been recognized as official days off in England since 1871. The name of this holiday stems from the fact that in the past, banks were shut down during these holidays and no trade could take place.

Origins: 

An act was passed in 1871. It listed four official bank holidays in England, Wales and Ireland. Scotland got five bank holidays. In England, the bank holidays were to take place as follows: 

- The Monday of Easter

- A day off between May 11 and June 14, called Whit Monday

- The first Monday of the month of August

- December 26th or Boxing Day

In 1903, a bank holiday was added to the four already designated days for Ireland. St. Patrick’s Day was added to the bank holidays, as well. 

In 1971, Whit Monday was replaced by a fixed bank holiday. The last Monday of May officially became the spring bank holiday. Additionally, the day off on the first Monday of August was moved to the last Monday of the month.

A bank holiday may also refer to an emergency bank closure due to unusual circumstances. Such a holiday took place in 1968 during the sterling crisis. Prime Minister Harold Wilsonsuggested a bank holiday to close the London gold market and decrease losses.

Today, there is a law allowing for the dates of the bank holidays to change. New bank holidays can be declared to mark special occasions, as well. After the election of the Coalition Government in 2010, there was a suggested move of the spring bank holiday to the month of October. Pre-consultations were launched in 2011 to investigate the possibilities of alternative holidays and the supposed benefits of such a decision.

Apart from bank holidays in England, there are such days off in other countries like the US, Hong Kong and India. The rules are similar and the banks are closed for operations during those holidays.

Do Shops and Banks Work on Bank Holidays?

Till present day, banks remain closed on the spring bank holiday and the other official holidays. The situation, however, has changes since the past, as many shops and businesses decide to open and service customers during the bank holidays.

Employers are not required by law to give their workers a day off on the bank holidays. Still, many companies declare these official holidays and refrain from performing business operations. Emergency services like healthcare, firefighting and police aid will be provided during the bank holidays.

People who want to do anything connected to their savings accounts, bank transfers, bank investigations or loan provision would have to wait until the next day. Many forensic accountants like forths forensic accountants and many other forensic accountants however, will work during the official bank holidays and provide people with assistance about bank fraud and other money-related issues. 

The Contemporary Spring Bank Holiday: 

Spring bank holiday is one of the most eagerly awaited vacation days today. The entire weekend is used by families to travel and spend quality time together. The nice weather during the spring is one of the main reasons for the popularity of this day off.

There are interesting traditions related to spring bank holiday that people respect till present day. In Staffordshire’s Endon, people dress their well, hold a celebration and crown a Well Dressing Queen. A special competition takes place on Cooper’s Hill in Brockworth. People race down the hill and chase a round cheese. The first racer to cross the finish line wins an eight-pound piece of Double Gloucester cheese.

According to local decisions, stores and businesses may be either open or closed during the spring bank holiday. If you plan to do shopping on the last Monday of May, you should figure out whether the stores of interest are going to be open.

Bank holidays have remained quite popular till present day. The fact that a day off is given on Monday provides people with an opportunity to schedule a long weekend trip or to simply enjoy the company of friends and relatives. Though banks are still officially shut down, many businesses are working and providing services on the bank holidays. The tradition is still alive, though slightly modernized.

Source:

Beware of SCAM Jobs - Dynamite Solutions LTD

Beware of SCAM Jobs Online

Don't you just hate it when you're searching for job online and come across a total time waster such as scammers? You may view more scams here. 

Today I got this email from Richard Wood (I highly doubt if that's even his real name) with Dynamite Solutions LTD. 

Hello,

Here is additional information about the vacancy with Dynamite Solutions LTD.

Our main goal, within the company, is to match our clients needs with the best freelancers available, world wide.

Job title is Payment Processing Agent.

Job requirements:

- 18 years of age or older;

- Internet access;

- working telephone number;

- bank account (current/savings) or a Verified Premier or Business PayPal account. New accounts are also welcomed!

- availability of 2-3 hours per day.

Refer to the links below for additional information:  http://www.dynamite-solutions.com/job/finance2?lang=uk

Frequently Asked Questions: http://www.dynamite-solutions.com/job/finance/faq

MAIN POINTS:

- No investment of money on your part;

- Long-term or Short-term employment is available;

- Base pay along with commission is guaranteed;

- Training is provided during the probationary period.

- This is NOT a sales position;

SIGN ON BONUS! Please follow the link: http://www.dynamite-solutions.com/job/finance-bonus?lang=uk

Our company registration number is:

For further information or to request an application, please reply to this e-mail.

Thank you for your time and interest with our company.

Best Regards,

Richard Wood

Phone: 0141 356 1846

Fax: 087 2352 7716

Their website is quite shady and confirmed from this thread that such website is indeed a scam. 

Philippines Included in the World's Best Countries in Business English

The Philippines was named the world’s best country in business English proficiency, even beating the United States, according to a recent study by GlobalEnglish Corporation (Source)

GlobalEnglish has released early this month the results of its annual Business English Index (BEI), the only index that measures business English proficiency in the workplace.

For 2012, results showed that from 76 represented countries worldwide, only the Philippines attained a score above 7.0, "a BEI level within range of a high proficiency that indicates an ability to take an active role in business discussions and perform relatively complex tasks."

“This is particularly interesting because the Philippines, a country with one-tenth of the population of India, recently overtook India as a hub for call centers. Over 400,000 Filipinos are now employed in call centers, roughly 50,000 more than in India,” the study said.

The Philippines, which scored 7.11 and the lone country in the intermediate level, were joined by Norway (6.54), Estonia (6.45), Serbia (6.38) and Slovenia (6.19) in the top five.

GlobalEnglish noted that a country’s business English capability is an indicator of its economic growth and business success.

“It is not surprising that both the Philippines and Norway—the only two countries in the top five in both 2011 and 2012—are improving their economies, based on the latest GDP data from the World Bank,” it added.

Meanwhile, struggling economic powers (Japan, Italy and Mexico) and fast-growth emerging markets (Brazil, Columbia and Chile) scored below a 4.0 in business English proficiency, placing them at a disadvantage when competing in a global marketplace, the study said.

It also pointed out that shifts in global talent have put even English-speaking countries at risk.

“Surprisingly the BEI score for global workers in the U.S. declined from 6.9 to 5.09 since the original 2011 BEI benchmark, which is attributed to a majority of test takers being foreign-born engineers and scientists,” the report said.

Rest of the world ranked beginner and basic level

Based on a scale of 1-10, the average 2012 BEI score across 108,000 test takers around the world is 4.15 which is lower than last year’s 4.46.

Nearly four out of 10 (38.2 percent) global workers from 76 countries were ranked as business English beginners, meaning that, on average, they can’t understand or communicate basic information during virtual or in-person meetings, read or write professional emails in English or deal with complexity and rapid change in a global business environment, the study said.

Meanwhile, the majority of global workers (60.5 percent) from the represented countries scored between a 4.0 and 7.0, below an intermediate level, indicating an inability to take an active role in business discussions or perform relatively complex tasks such as presentation development and customer or partner negotiations, it added.

GlobalEnglish stressed that the 2012 BEI which showed a lack of business English proficiency is threatening the productivity of companies, industries and country-specific economies this year.

“Poor Business English skills are bad for global businesses and this year’s Business English Index suggests that many companies will be hard-pressed to achieve their desired performance goals during 2012,” said Tom Kahl, GlobalEnglish President.

“Addressing English skills gaps and ensuring that employees can immediately perform at the necessary proficiency level should be viewed as a strategic imperative for multinational businesses, as Enterprise Fluency, the ability to seamlessly communicate and collaborate within global organizations, can deliver significant financial upside,” Kahl added.

Headquartered in Brisbane, California, GlobalEnglish works with multinational companies – including Cisco, Procter and Gamble, HSBC, Phzer – to support performance in business English across the workforce around the world.

Here's the list of the 10 best and worst countries in the world for business English proficiency based on GlobalEnglish's 2012 BEI:

10 Best Countries:
Philippines
Norway
Serbia
Slovenia
Australia
Malaysia
India
Lithuania
Singapore
Canada

10 Worst Countries:
Armenia
Cote d'Ivoire
Taiwan
Honduras
Columbia
Chile
El Salvador
Saudi Arabia
Israel
Brazil

How to Cancel Your PPLIC Insurance

Sample Cancellation Letter and Steps to Cancel Insurance with PPLIC

You've probably previously read about my article about the Philippine Prudential Life Insurance Company and their misleading marketing strategies and you want to cancel your insurance policy. However, before you cancel, you may want to read what the company has to say. 

Resources On How to Cancel Your PPLIC Insurance

Click here for the complete resources for cancelling your insurance policy.

Click here  and here for the step by step process on how to cancel. 

Click here for the sample cancellation letter. 

Click here for the letter which the PPLIC employee sent me apologizing. 

Hope those resources can help you cancel your insurance policy with PPLIC once you've decided. 

Philippines Investment Rating Upgraded by Fitch

Good news Philippines! The following article is essentially going to be a re-post of Bloomberg's article but hey, congratulations Philippines! Another reason why investors should invest in the Philippines is the upgrade on our investment rating!

The rating on the nation’s long-term foreign currency- denominated debt was raised one level to BBB- from BB+, Fitch said in a statement today. The outlook on the rating is stable.

“The Philippines’ sovereign external balance sheet is considered strong relative to A range peers, let alone BB and BBB category medians,” Fitch said, citing the net external creditor position.

An exit from so-called junk status bolsters Aquino’s drive to transform the nation into one of the region’s fastest-growing economies 15 years after the Asian financial crisis of 1997-98. The upgrade may also boost capital inflows and complicate the job of the central bank as it tries to rein in an appreciating peso and curb asset bubbles.

“Funds are already pouring into the Philippines and an investment grade is a further endorsement,” Eugene Leow, a Singapore-based economist at DBS Group Holdings Ltd., said before the report. “It allows a wider pool of investors to buy Philippine assets and there might be a slight bump up in inflows. The central bank has been sounding off on inflows and they could implement measures to deter speculative inflows.”

The Philippine Stock Exchange Index (PCOMP) surged to a record in March and the peso is trading near a five-year high.

Personal Finance for Every Juan in Singapore

Personal Finance Seminar for Filipinos in Singapore

Personal finance, financial freedom, financial literacy, financial education and advocacy. These are just some of the things that are very close to my heart as I've always been advocating the importance of learning how to manage one's finances, save money and be able to have stable source of income aside from your day job. 

Personal Finance for Every Juan: An Event You Shouldn't Miss for Anything! 

I usually share a list of must-attend seminars through my blog, Saving is Sexy, as I like to keep track of personal finance events, webinars and other related activities that will help empower more Filipinos financially. I ensure that these events do not promote scammy activities and share only those who truly provide value to my fellow Filipinos, especially the Overseas Filipino Workers (OFWs) who wish to understand the basics of investing money and where to place their hard-earned money.  

However, my personal finance blog (focused on the first step which is saving money, is currently down). You may, however, click on its Facebook page for daily tidbits and tips (usually jokes!) on how to save money. 

I'm thrilled to share with you another event where some of my favourite personal finance advocates and personal finance bloggers are coming together to impart their wisdom and expertise in an event called Personal Finance for Every Juan. It's a really good event that I hope that my OFW friends in Singapore will blessed with financial wisdom through it.

The event will help more Filipinos learn how we can champion financial literacy and how we can push the advocacy of financial literacy to every Filipino. My all-time favourite personal finance expert and financial literacy advocate, Randell Tiongson, will once again visit Singapore to share us the importance of Insurance, why we should invest in Mutual Funds, and more about Personal Finance. You might remember how ecstatic I was when he first visited Singapore (read my post here and here) and do check out the photo during his seminar on Achieving Financial Security here).

Mr. Randell Tiongson, Personal Finance Literary Advocate and Expert 

Below is the line up of the speakers for the Personal Finance for Every Juan in Singapore

Randell Tiongson, Director of Registered Financial Planner (RFP) Philippines

Blog: www.randelltiongson.com

Jess Uy, Licensed Independent Financial Advisor and a Filipino expat who's currently working here in Singapore as a wealth planner, will discuss about "diversification" and will show you more about the outlook in the global market.

Kenneth Musngi, Major Homes Properties

For details on how to attend the said event, do visit their event page. 

Also, some of my favourite personal finance bloggers will be attending and facilitating the said event such as Richard Macalintal, Rex Holgado of Alkansya ni Juan, Floi Wycoco of TGFI Singapore (The Global Filipino Investors) Group, whom I've met during one of the cashflow game sessions in Singapore, so it would be great to meet these financially-forward-thinking professionals who will definitely help and strive to guide fellow Filipinos in learning how to invest your hard-earned money. 

The Global Filipino Investors in Singapore during a Cashflow 101 Game Session

What: Personal Finance for Every JUAN

When: April 27, 2013

Time: 8:30 am - 12:30 pm / 1:30pm - 5:30pm

Speakers:

Randell Tiongson

Jess Uy

Kenneth Musngi

For details about the price of the seminar and how to register, visit their Facebook event page. 

5 Ways College Students Living off Campus Can Save Money

How to Save Money While Living Off Campus

1.Budget

Planning ahead is the first and foremost key to saving money effectively. Start saving before you have even left your former abode! If you can’t afford an end of lease cleaner take the time to clean yourself. Fix up any cracks in the walls or stains on the carpet yourself so you get your tenancy bond back and use it for your new off-campus accommodation.

Calculate how much rent, electricity, water, transport and food might cost every week. Factor in entertainment and leisure costs (be realistic!) and make sure you account for any unexpected medical expenses. Take a look at your exam schedules and factor in a lower income for that period, as you may not be able to work as much if you’re studying. Living in shared accommodation with other people is a surefire way to cut rental costs so start thinking about who might be a compatible roommate. 

2. Invest immediately in appliances that will cut costs

You’re not going to cook or clean yourself if you don’t have the facilities to do so. While they may be an expense at the time, good quality cookware and a decent vacuum cleaner will last you years. Buying stock cooking products(rice, pasta, olive oil) and core cleaning products (dishwashing liquid, bleach, kitchen spray) in bulk will save you bucket loads in the long run. Likewise, if you live close to campus invest in a bicycle to save on transport costs. Plus you won’t waste money on a gym membership!

3.Teach yourself to be thrifty

Instead of paying someone else to do things; learn how to do it yourself. A huge (and avoidable) expense for college students is eating out or ordering in. Learning to cook is one of the quickest ways to free up your budget. There are plenty of recipes available online and if you’re missing your Mum’s famous chicken pie then call her for the recipeand make it yourself! Avoid handyman costs by learning how to fix and repair things around your home yourself. If you can’t do it; someone on YouTube can.

4. Become an opportunist

Actively seek out opportunities to save on both education and leisure expenses. Check whether you are eligible for any scholarships, grants or governmental assistance. Enter competitions to win concert tickets, look up what night your local cinema has discount tickets, keep an eye out for free festivals and of course; always have pre-drinks at home!

5. Don’t stop saving!

When you have finished your degree and you are coming to the end of your lease don’t stop saving money then.Save money on a removalist by asking some muscly friends to help you relocate! Just because you have spent four years analyzing the fine nuances of English literature doesn’t necessarily mean you will be offered a job the moment you graduate. Keep all these tools in your thrifty tool-kit and use them in your post-graduate journey!

Image Credit via Accurate Leads