"I love that you've brought this to attention. An extensive database of uncommon but resistant and hardy plants/foods could be developed and organized by climate. Ease of growth and processing should also be taken in to account. I will try to…"
A crash course in changing the world.
Prudential Bank - Helping Create The Future You Want
Well, I'm no expert, but here you go. Banking that empowers, encourages charity, and your own vision for a better future.
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When it comes to money, most of us are smarter than we are.
When have a chance to reflect on life, we know what we want to do with our money.
When we are on the way to work, however, we shell out a fiver for a latte (x100 or so annually).
In theory, Prudential Bank helps us stay smarter than we are. Fiscal structure is provided to help our spending stay in line with what we want to do with our money in our smartest, most reflective moods.
Empowering fiscal structure: savings and interest rates that reflect your prudent self interest. Rates are better for you when you're spending reflects a prearranged financial plan.
For instance:
Groceries, home improvement, car maintenance, your planned vacation, charitible donations - credit purchases in these areas will accrue a smaller interest rate than purchases from Starbucks and Pizza Pizza.
I was part of the beta-testing group for one of the possible PB spending arrangements. It was a bad month for me because my van was on the fritz.
The non-sanctioned balance (top line - $34.35) is my spending over and above the leisure allowance I agreed to in consultation. My prudential interest rate is so low because I purchased a fairly ambitious spending arrangement.
Looking at the above chart, it will eventually occur to you that the PB makes less interest revenue the more prudent that I am. So what gives? Why does the bank encourage me to incur lower interest rates? What's the catch?
Part of the catch is that you pay for you lower prudential interest rate upfront. But that doesn't make up for the incredible 2.99% AIR. So how does PB expect to survive?
Well, getting a prudential line of credit requires that you first have a bank account with a savings plan. The interest from a PB savings account is pretty good - BUT - a significant proportion of that interest may only be used in
a) transaction with people and business which are currently committed to PB credit plans,
b) purchases that are in conjunction with PB loans, such as purchasing a house with a PB mortgage, or
c) prearranged monthly payments to charitable organizations.
At the end of the analysis, PB will not be able to depend on traditional revenue streams from personal lines of credit. But then, they are not employing a traditional strategy. In my humble opinion, PB should attract a lot of people and business to their unique - shall I say prudent - banking model.
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Inspiration: The Future of Money: National Fiscal Heath Services
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a reply:
what if you screw up? then you're doubly screwed because of the 'impulse' interest rate.
more info on PB - overspending protection:
you know when you overdraw on your account? or when you deposit a thousand dollars and only $200 of it is immediately available?
Well, when you overdraw against your spending arrangement be to great a margin, the same thing happens. Almost. Your debit or credit card will be denied on the given purchase that crosses the line. However, it is possible to phone PB and answer a series of security questions to bypass your spending arrangement protection.
This will a) give you the feedback that you are overspending again your financial goals an b) giving you another decision point to forgo the imprudent spending.
You can indeed screw yourself over with a PB spending arrangement, like with another credit service. But everything short of paternalism is employed to help you keep to your plan.
Overall, PB works to encourage prudent spending and helps to protect you against imprudence. Besides, the 'impulse' interest rate can be found with some credit companies that don't give the PB spending arrangement benefits.
----------------------------------------------------
When it comes to money, most of us are smarter than we are.
When have a chance to reflect on life, we know what we want to do with our money.
When we are on the way to work, however, we shell out a fiver for a latte (x100 or so annually).
In theory, Prudential Bank helps us stay smarter than we are. Fiscal structure is provided to help our spending stay in line with what we want to do with our money in our smartest, most reflective moods.
Empowering fiscal structure: savings and interest rates that reflect your prudent self interest. Rates are better for you when you're spending reflects a prearranged financial plan.
For instance:
Groceries, home improvement, car maintenance, your planned vacation, charitible donations - credit purchases in these areas will accrue a smaller interest rate than purchases from Starbucks and Pizza Pizza.
I was part of the beta-testing group for one of the possible PB spending arrangements. It was a bad month for me because my van was on the fritz.
The non-sanctioned balance (top line - $34.35) is my spending over and above the leisure allowance I agreed to in consultation. My prudential interest rate is so low because I purchased a fairly ambitious spending arrangement.
Looking at the above chart, it will eventually occur to you that the PB makes less interest revenue the more prudent that I am. So what gives? Why does the bank encourage me to incur lower interest rates? What's the catch?
Part of the catch is that you pay for you lower prudential interest rate upfront. But that doesn't make up for the incredible 2.99% AIR. So how does PB expect to survive?
Well, getting a prudential line of credit requires that you first have a bank account with a savings plan. The interest from a PB savings account is pretty good - BUT - a significant proportion of that interest may only be used in
a) transaction with people and business which are currently committed to PB credit plans,
b) purchases that are in conjunction with PB loans, such as purchasing a house with a PB mortgage, or
c) prearranged monthly payments to charitable organizations.
At the end of the analysis, PB will not be able to depend on traditional revenue streams from personal lines of credit. But then, they are not employing a traditional strategy. In my humble opinion, PB should attract a lot of people and business to their unique - shall I say prudent - banking model.
--------------------------------------------------------------------------------------------
Inspiration: The Future of Money: National Fiscal Heath Services
--------------------------------------------------------------------------------------------
a reply:
what if you screw up? then you're doubly screwed because of the 'impulse' interest rate.
more info on PB - overspending protection:
you know when you overdraw on your account? or when you deposit a thousand dollars and only $200 of it is immediately available?
Well, when you overdraw against your spending arrangement be to great a margin, the same thing happens. Almost. Your debit or credit card will be denied on the given purchase that crosses the line. However, it is possible to phone PB and answer a series of security questions to bypass your spending arrangement protection.
This will a) give you the feedback that you are overspending again your financial goals an b) giving you another decision point to forgo the imprudent spending.
You can indeed screw yourself over with a PB spending arrangement, like with another credit service. But everything short of paternalism is employed to help you keep to your plan.
Overall, PB works to encourage prudent spending and helps to protect you against imprudence. Besides, the 'impulse' interest rate can be found with some credit companies that don't give the PB spending arrangement benefits.
Views: 16
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Comment by Shtanto on April 23, 2010 at 11:44pm
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The notion of prudence seems to support determinism, since always obtaining what's seemingly best defies having choice and free will, if the outcome would be the same regardless of A or B. Reminds me of social contract - I'll have to get back to reading Hobbes again.
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