Last week, MATELEC 2014 was held, in which innovative solutions from the electrical and electronic industry were exposed to optimize business profitability. INBIOTIC, as a reference technology consultancy, we went to visit them.

The international exhibition of solutions for the electrical and electronic industry celebrated its seventeenth edition last week at IFEMA, bringing together 550 companies from more than 22 countries. In it we could see first hand all the technology, solutions and systems for the control and management of energy efficiently. Structured into five main sectors and four pavilions, technologies and components for electrical installation, solutions for smart cities and buildings (smart cities), automation, industrial and electronic control, electricity management, and LIGHTEC: Lighting solutions and lighting.

It is observed how fairs in this field are being redirected more towards saving and better use of energy sources, since energy efficiency is the unavoidable future trend and awareness of energy saving has already penetrated the market and society . Special mention must be made to companies such as ZENNIO and BYTECH which have decidedly and intensively bet on the new technologies applied to the Smart City concept, making our home or business a place with total control of energy savings and with the implementation of cutting-edge technologies in terms of access control.

Smart cities are committed to the creation of intelligent systems in sectors such as health, transport, infrastructure, energy or tourism without having a negative impact on the environment. It is about creating urban spaces with a high level of habitability and sustainable over time, both for its economic balance and its environmental balance.

In terms of industrial automation and PCB assembly processes, we were able to see and test the most advanced machinery in chip design and implementation, especially highlighting the speed of production of these and the functions that are capable of developing in just a few seconds, such as the drilling of pads, placement of SMD components and verification of connections and continuity by X-rays. Here we leave you two videos in which you can see the process and the speed at which the pick & place is made, reaching 50,000 components. at the time

We say goodbye until next year of MATELEC 2014 , with the perceptions that the Spanish electronics industry is betting on R & D & i in terms of renewable energy efficiency and refers to the Smart city concept is the trend of a not too distant future.

In this regard, highlight the bet within HORIZON 2020 on Smart cities , through the call Smart cities and communities , under the topics “Smart Cities and Communities solutions integrating energy, transport, ICT sectors through lighthouse (large scale demonstration – first of the kind) projects “and” Development of system standards for smart cities and communities solutions ” . At the national level, CDTI also supports this type of project under the type of bottom-up type projects with open call.

Saving for retirement should be a universal principle for everyone, those who quote a lot and those who quote little, those who like risk and those who do not. The current situation means that in the medium term we inevitably go towards lower pensions because of the greater weight of the pensioner population and because of an obligation to contribute a number to get 100% of the pension more and more complicated, as there are more years and more complicated to achieve it when young people join the labor market much later, at least in a stable way.

With all this, we emphasize, it is important to plan and, as far as possible, to do it as soon as possible to more easily achieve our objectives, which is to have a capital or income that assures us all the necessary well-being when we retire. This capital is made up of two variables, the capital that we are contributing to which we must add or subtract the generated profit, a return that the longer the product has, will be more important.

Profitability and risk

The profitability of investments is closely linked to the concept of risk, and vice versa. Under normal circumstances, the more risk you are willing to take, the more profitability you can get but the potential losses are also higher. Let’s say for example the Stock Exchange. If we analyze, for example, its 20-year performance and calculate it annually, historical series outperforms other assets considered safe, but if you invest in a shorter time horizon, for example, 5-10 years, and you encounter a crisis financial like the one we just lived, what you get are losses. In other words, having a long term investment allows us to be able to bet on products with more risky investments, but with moments when risk can lead to losing part of what has been earned.

Risk profile

These possibilities must always contrast with our risk profile. The risk profile defines our ability and attitude to tolerate losses that may occur in investments. If we do not want to have losses, even if we start saving a lot of time in advance, we should only bet on products that guarantee our capital such as the Aegon Insurance Plan (PPA), with an interest rate of 1.5% on the 4 first months and currently an assured minimum of 0.6%. If your profile is more risky and you are tolerant to take losses, you can choose other alternatives of more risk.

Of course, you always have to adjust the investment to the remaining time for your retirement. As this moment approaches, it is necessary to protect the accumulated savings, consolidate it, choosing lower risk products such as PPAs. The objective is to reduce the chances of losses or even eliminate them to ensure everything saved and earned in the years of preparation for retirement.

• 23 projects are approved in the second call of CIEN, with nearly 140 million euros of public contribution

• The approved initiatives will generate 6,399 jobs, most of them highly qualified

The Board of Directors of the Center for Industrial Technological Development (CDTI) , a body under the Ministry of Economy and Competitiveness, has approved 44 new R + D + i projects with a total budget of 203 million euros. The CDTI will provide more than 152 million euros to boost business R & D & i.

23 projects have been approved in the second edition of the CIEN strategic program, 4 individual R & D projects and 17 project of the Innovation Hotline. In the development of these projects, 704 companies participate, of which 62% are SMEs and, of these, 43% belong to medium and high technology sectors. Of the total of the companies involved, 256 (36%) receives funding from the CDTI for the first time.

The CDTI estimates that the sum of these initiatives will mean the generation of 2,203 direct jobs that will mobilize 4,196 indirect jobs. In total, 6,399 jobs for the economy as a whole.

CIEN strategic program

This program is intended to finance large industrial research projects and experimental development, developed by business consortiums and aimed at carrying out planned research in strategic areas of the future and with potential international projection.

The CDTI has approved 23 CIEN projects in which more than 150 different companies participate, with a contribution commitment of 140 million euros and close to 187 million euros of mobilized investment.

Projects co-financed with FEDER funds

The CDTI has approved 3 projects co-financed with funds from the new 2014-2020 FEDER round-Pluri-Regional Operational Program for Smart Growth-, with a public contribution ( CDTI + FEDER ) of 1.67 million euros, two of them in ” more developed areas “and the third in” areas in transition “, according to the definition of ERDF.

The implementation of the Pluri-Regional Operational Program for Smart Growth has allowed the CDTI to increase the non-reimbursable tranche to 20% for all projects that have co-financing from this program, regardless of the size of the beneficiary.

It is the dream of many to get on an airplane and cross the ocean to know distant and unknown lands. In fact, it is one of the objectives that most commonly appear in the lists of New Year’s resolutions for Mexicans, but which most of them fail to comply with because they think that in order to travel, much is needed for one thing: money.

And as we already have too many personal expenses, we relegate that dream until it seems an impossible thing. But the reason for this article is to tell you that you can travel, that never like today has been so easy and that, in addition, can be very cheap, if you plan your trip with time and intelligence.

I say intelligence because if your plan is to travel without finishing all your savings, you should not decide to take that trip to, for example, Venice or the city of New York, places that are known to be extremely expensive. Instead of traveling there, why do not you go to places that are more extraordinary, unique and exotic, and much cheaper?

Maybe your answer is that you do not know which sites are like that. Well, do not hesitate anymore, because here we present a list of five countries where you can travel with very little money.

1. Thailand

This beautiful country in Southeast Asia is known among backpackers for being one of the most paradisiacal places that can be visited with little money. Thailand is a tropical country with a very rich culture and food worthy of the most demanding palates. Some of the reasons why this beautiful place known as the Land of Smiles is so cheap is because you can visit several of its main attractions without paying a penny: the amazing beaches and the delicate Buddhist temples.

 

2. Vietnam

Although the name of this country can cause your first thought to be war, because of the famous war that took place along with the United States more than forty years ago, Vietnam is a place like no other that charms its visitors. Perhaps it is their beautiful rural landscapes with rice fields and mountains, or perhaps the fact that you can enjoy the best dishes of their cuisine in small plastic stools on the edge of the street. The delicious coffee, the beautiful coastline with tropical beaches and the mountains with indigenous groups that boast of their colorful culture are other reasons why you can not miss this country.

 

3. India

India is a country that will overwhelm all your senses. From the multicolored fabrics worn by women in their typical clothes, to the smells and flavors of one of the most delicious cuisines in the world, India is a transformative experience and, believe me, you will never be the same again. This country is one of the largest in the world and offers so many attractions that although you will visit a couple a day, there would be no way to end it in a year. Among its most popular sites are the Taj Mahal, one of the wonders of the world, the sacred river Ganges, the desert landscapes of Rajasthan and the beautiful beaches of the south.

4. Poland

If a trip to Asia is not your thing, because of the distance or because you die to get to know Europe, then I recommend a holiday in Poland, one of the most economical and at the same time beautiful countries in the Old World. This place drains interesting history and has nothing more and nothing less than fourteen sites named Patrimonies of Humanity by Unesco. You can spend your days here getting to know cities with beautiful architecture, such as Krakow and Warsaw, walking in the woods, tasting their famous vodka or touring all the country’s castles.

5. Turkey

Our last recommendation is about a place between Europe and the Middle East: Turkey, a huge country that you should visit even once in your life. This nation has it all, from small villages full of magic and towering mountains, to Mediterranean beaches and ruins of ancient empires. Because it is located in one of the most privileged locations, both geographically and culturally, Turkey is a place like no other. Visit the spectacular mosques of Istanbul, get on a hot air balloon in Cappadocia and swim in the hot springs of Hierapolis.

There you have five very economical countries for your next trip. Which of them attracted you the most? Remember that traveling with little money is possible, you just have to plan it well.

Thanks to government intervention and the creation of stricter and stricter laws and regulations, payday loans in Canada have declined over the past decade, but that does not mean they are not always wreaking havoc to thousands of Canadians each year.

If you are unsure about the financial problems associated with a payday loan and you plan to get one, we encourage you to continue reading in order to make as informed a decision as possible.

 

What is a payday loan?

A payday loan is a short-term loan with an extremely high interest rate that must be repaid with the next payday of the borrower, hence the name. Payday loans are intended to serve a certain portion of the population that is not financially stable enough to be approved by a more traditional loan solution. Payday loans may seem like a great option for those who need a quick cash loan and who do not have the credit rating needed to apply to a bank, but the reality is that these types of loans are only beneficial for predatory lenders.

In recent years, the Government of Canada has cracked down on payday loans, which means that most provinces now have limitations on what a lender can charge for a short-term loan. Since it is no longer profitable for these types of lenders to have their homes on the street, many payday loan companies have transferred their businesses online.

Online payday loans are everywhere (just do a Google search), anyone can access it the same day. Money cashed quickly with few or no requirements. Great, no? Especially when an unexpected expense occurs.

What are the requirements for getting a payday loan?

 

The approval rate for payday loans is very high, one of the reasons they are attractive. Unlike other financial products, to qualify for a payday loan, a consumer must only provide the following:

• Proof of income for the last 3 months
• Proof of address (electricity bill etc)
• Chequing account for automatic transfer and payments

If you meet these three requirements, you will be approved. Regarding the time it will take to get the money, if you apply online, you may have to wait up to a day to get your money, but if you apply in person, you will probably get it on the spot.

The cycle of payday loans

The payday loan cycle is one of the worst debt situations in which you could be. It can take months or even years to regain control of your finances and repay the accumulated debt. This cycle of indebtedness can occur when you find yourself in one of the following situations.

In the first situation, a borrower gets a loan to cover the cost of an unforeseen expense or to pay for something for which he does not have the money. After 2 weeks (next pay day), he still does not have the money to repay the loan because of all the other expenses of life that need to be covered. The payday lender therefore suggests to lend another larger loan this time, to cover the first loan as well as to help with any other expenses that the borrower might have. Once this cycle begins, it can be very difficult to stop, as many borrowers continue to get new loans every 2 weeks for an extended period.

Fortunately, this is not happening as often as it has been since the government made it illegal for lenders to refinance loans. This means that if someone can not afford to repay their first payday loan, the lender can not provide another one to cover the first one.

In the second situation, a borrower gets a loan to cover a specific cost and can repay the loan in full on his next payday after 2 weeks. The borrower is then offered a second payday loan. Generally, this second loan is more important because the lender sees that the borrower has been able to manage his or her first loan. This can often last as long as the borrower can continue to pay more and more expensive loans.

Alternatives to payday loans

Payday lenders tackle desperate people and make their loans extremely accessible with few requirements. Even though the payday lending industry uses the excuse of filling a market gap and helping those who can not borrow from other major financial institutions, the reality is that most payday loan companies lend money. to those who can not afford to pay a payday loan.

Borrowing money, by any means, when you can not afford it is never a good idea. But of course, we can not predict the future and under what circumstances you will need to borrow. This is the reason why payday loans are so attractive. The good news is that there are many other ways to borrow money without the negative effects of a payday loan.

Personal loans by installments

These types of loans are one of the best alternatives, more affordable than payday loans.

You can apply for a personal loan from a variety of lenders, whether in banks or at a private lender. The options are virtually endless, which means you’ll be able to find a loan that best suits your needs and lifestyle.

Depending on the lender you choose and the loan you are interested in, your interest rate and payments will vary. What makes a personal loan much more affordable than a payday loan is how to pay it back. Installment payments mean you will have more time to repay your loan and will not need to take out another loan to cover the cost of the first one.

Credit card

Credit cards are an excellent financial tool if used properly and responsibly. They can facilitate large purchases and can be used as a form of short-term borrowing. That’s why they are a good alternative to payday loans. When it comes to using a credit card to buy something you can not pay in cash, it is important to be cautious because it is very easy to spend too much and accumulate a large debt.

The best way to use a credit card is to pay for something you can afford, either immediately or in the billing period of your credit card.

Line of credit

A line of credit is similar to a credit card in the sense that you can use your available limit, pay it back and then use it again. A line of credit also has a minimum payment that must be made each month, but of course, you can repay the full balance at any time. If you are considering getting a payday loan to cover the cost of a specific expense, for example, a car repair, we recommend that you first check with your bank if you qualify for a line of credit. When you apply for a line of credit, you are usually offered an interest rate that is not only lower than a payday loan, but also lower than your average credit card. This makes a line of credit one of the best ways to borrow larger amounts of money.

Home Equity Loan

If you own a home, using your equity to get a loan or line of credit is a more affordable alternative to a payday loan. Home equity loans or lines of credit work in the same way as unsecured loans. In this case, you use the capital you have accumulated by repaying part of your mortgage to obtain additional financing. Since a home equity loan or line of credit is guaranteed by your home, you will usually be able to obtain a larger loan.

It is important to note that if you need a loan as quickly as possible, this option is not necessarily your best option, as you will have to go through the approval process of the bank with which you took out your loan. mortgage.

Borrow from a friend or family member

It’s not always easy to ask someone you trust to borrow money, but it’s definitely a much better idea than getting a payday loan. If you family borrowing money, it is always good to agree on all the details before the money is transferred. Consider the following:

• Do you have the financial capacity to repay the borrowed money within a reasonable time?
• Are you comfortable paying interest charges?
• How often and in what form will you make the payments?
• What happens if you can not make a payment on time or not at all?
• Will there be a written agreement?

Predatory practices of payday loans

Renowned lenders perform some form of valuation before approving or rejecting a candidate. Payday lenders do not perform any type of valuation and therefore often lend to those who can not repay a loan.

Since payday loans can be predatory in nature, if you choose to get one and understand the terms and conditions of your policy, the only thing you can do to relieve your debt is to pay it back.

On the other hand, if you believe that you are forced to sign a contract that you do not understand, that you are lying about the terms of your loan or that you have the impression that a potential lender is trying to rip you off it is important to immediately contact the relevant authorities.

Payday Loans FAQ

How long does it take to pay off a payday loan?

A payday loan must be repaid in full, plus interest and applicable fees, to the next pay day of the borrower.

If I ask for a payday loan, what will be my interest rate?

The cost of a payday loan varies depending on the province where you live. For a two week payday loan of $ 100, here is what you will have to pay by province.

• Alberta $ 15
• British Columbia $ 23
• Saskatchewan $ 23
• Manitoba $ 17
• Ontario $ 18
• Quebec n / a
• New Brunswick n / a
• Nova Scotia $ 25
• Prince Edward Island $ 25

What do I need to get a payday loan?

• Proof of income for the last 3 months.
• Proof of address (an electricity bill is usually a good option).
• Chequing account for the automatic transfer of the loan and payments.

Where can I get a payday loan?

Payday lenders operate online or have their house on the street

Once approved, how can I get my money?

Depending on the payday lender you choose, your loan will automatically be transferred to your chequing account or you will receive a money order.

Loans and loans

Despite the fact that there are lenders who attack the poor or those who feel they have limited options, it is important for you, the consumer, to make responsible borrowing decisions. Keep in mind that even if your past financial missteps haunt you, payday loans are not your only option.

When you have spent a lot of time looking for a home and finally have one of your dreams, it can be tempting to buy it, no matter the price. Before you can go through the front door, you will have to pay a down payment. Once you have made an acceptable down payment and purchased default mortgage insurance (if necessary), you will start mortgaging your home, amortizing its total value over approximately 25-35 years (depending on a number of factors, including if you have a mortgage insured by CMHC), until the house is fully paid.

However, before starting this process, you will need to determine exactly how you intend to finance the down payment. After all, depending on the price of the house, even a minimum deposit of 5% is not such a small amount of money for most people. This is where the Home Buyers’ Plan can come into play.

Down payment and mortgage

Before deciding which action plan to adopt to become a first-time homebuyer, it’s good to have an idea of ​​what the down payment and your future mortgage will cost in the long run. Since February 15, 2016, some significant changes to the Canadian Housing Rules, including the Home Installment System, have been put in place to ensure potential buyers do not end up with mortgages they can not pay. For example :

• Houses valued at $ 500,000 or less now require a minimum deposit of 5% of the total price.
• Houses costing $ 1,000,000 now require a minimum deposit of 5% of the first $ 500,000 and 10% of the balance remaining
• For homes valued at 1,000,000 and over, a deposit of at least 20% is required

With regard to mortgages:

• A conventional mortgage-means that a buyer will make a down payment of 20% or more on his home
• A High Ratio Mortgage-means that a buyer will make a down payment of between 5% and 19.99% on his home

Depending on its location and condition, a typical suburban home will likely cost more than $ 350,000. More than double that price if you’re trying to buy a house in one of Canada’s big cities, like Vancouver or Toronto, where a two-story condo can cost more than $ 1,000,000. With prices like these and all other costs associated with a home, it is common for first time buyers to make a down payment of minus 20%. It is of course better to make a payment over 20%, but their current income might not allow it, so they must be realistic. A high ratio mortgage is often a more affordable option, but in this case, the buyer will likely make his monthly payments over a longer period than someone with a conventional mortgage.

Those with high ratio mortgages will also need to qualify, and then purchase “mortgage loan insurance” from one of Canada’s three mortgage insurance providers. These three main suppliers are: Canada Mortgage and Housing Corporation, Genworth Financial Canada, and Canada Guaranty. The insurance premium a buyer must pay will vary depending on the percentage of the down payment and the amount he plans to borrow from his lender.

What is the Canadian Home Buyers’ Plan?

As mentioned above, the Home Buyers’ Plan will be useful when an initial buyer pays down on his mortgage. The HBP is a type of program in which eligible buyers contact the Canada Revenue Agency, complete Form T1036 and can extract up to $ 25,000 from their RRSP, tax-free, during the course of the year. ‘fiscal year. If the spouse also has an RRSP, it is also possible to take up to $ 25,000 from their account. They can then use these funds to fund the down payment of their new home.

However, after withdrawing the money, in the second year after the withdrawal, they will have to start repaying their RRSPs. You must also repay the total amount of funds withdrawn within 15 years of withdrawal or face tax penalties.

Is it better to withdraw funds from your RRSP or TFSA?

Unfortunately, in today’s housing environment, even the total amount you are allowed to withdraw from your RRSP ($ 25,000) is not a huge amount, considering all the other costs of living. accommodation that you will need to cover. For example, if your house costs $ 400,000, this $ 25,000 will cover about 16% of the amount. This is enough to fund the down payment for a high ratio mortgage, but you could end up with an empty RRSP for your retirement until you have paid it back. One of the benefits of the Home Buyers’ Plan is that you will be eligible for a tax deduction through this program. You can then reinvest the money you receive from this deduction into your RRSP.

All in all, some real estate specialists say that it may be beneficial for your financial future to withdraw the necessary funds from your tax-free savings account rather than your RRSP. Certainly, taking the money out of your savings has disadvantages, mainly that you are going to pawn in the money that you could use for something other than your retirement. However, a major benefit to many people is that they will not have a specific time when they will have to repay the money withdrawn. So, do not forget to take these considerations into account before you decide.

Properly declare your renewed contributions

If you plan to fund your down payment using the RRSP Home Buyers’ Plan, there is one thing you absolutely must do. As you repay the money to your RRSP account, you will need to make sure your contributions are reported to the Canada Revenue Agency. In the past, homebuyers made this mistake by accidentally contributing to their regular RRSP account to suddenly default on their HBP loan. The CRA must know that your renewed RRSP contributions are used to pay back the Home Buyers’ Plan, not your usual account.

Benefits of paying off your RAP quickly

Let’s say you decided to withdraw the maximum amount from your RRSP account: $ 25,000. For example, you will then intend to repay it within 15 years of minimum payment. 25,000/15 = $ 1,666.66 per year.

However, if you decide to pay a little more and round up your payments to $ 2,000 a year, you will end up repaying the money in about 12.5 years. Anything you add from that point on will simply be an additional contribution to your regular RRSP. This seems to be a realistic goal for everyone, and if you wish, you can even pay more in the beginning, then pay less for the remaining years. Example: If you manage to repay $ 5,000 a year for three years, you will have donated $ 15,000. With the remaining $ 10,000 you can reduce your payments to $ 2,000 and, five years later, your RRSP account will be fully replenished. The faster you pay, the sooner you can save for retirement.

The disadvantages of contributing more than the minimum amount

Contributing more than the minimum annual amounts required for your RRSP has the same disadvantages as applying to any type of mortgage, automobile or home ownership plan.

In the end, you will have effectively repaid your RAP quickly and can start spending your money elsewhere. However, the additional (fictitious) amount of $ 334.34 that you added to your RRSP repayments could have been used for mortgage payments per se. You could have put them in your regular RRSP, where they would have generated some interest over time and would have helped you retire a few years earlier. They could also have been better spent, such as for car payments, student debt or even everyday expenses such as groceries and household products for which you now need a loan.

So, is it better to pay off your RAP quickly?

It really depends on your annual income and your responsibility for savings. Keep in mind that a home is a big financial responsibility. During your life as an owner, you will certainly encounter expenses that exceed the cost of your mortgage. Which means it may be in your best interest to have money available to help you cover some costs.

For example, if you plan to use the Home Buyers’ Plan to fund your down payment, instead of another form of financing, the choice to pay it quickly or on time will have advantages and disadvantages. . Before making an important decision, it is very important to review your finances, discuss all possibilities with your partner and then consult a financial advisor.