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Are individuals having the chance to control their payment by using direct debit or is it Direct debit controlling each individuals payment schedule (watch only 1st part of the video) Money is still withdrawn from an individuals account even if there is nothing there. They could face fees from their bank (and sometimes their supplier) if they don't have sufficient funds to cover the payments. Because fixed direct debit payments are calculated using previous consumption figures, some payment amounts will not be exactly equal to the individuals actual usage. This means they may end up paying too much or too little to their supplier. The individual would also lose some flexibility in the way they manage their finances.

This article discusses the balance of payments in Ukraine, and details many of the various aspects of the balance of payments that we have studied this week.

This article tells the balance of payments of Ghana skyrockets comparing to the same period in 2011. The main reason is the falling price of cocoa beans, which is a main export of Ghana, and the falling export volumes. With the export going down and imports of oil, and other non-oil imports skyrocket, the balance of payment become negative value.

A lot of movement in the reserve assets component of the financial account in India is causing stress for the balance fo payments. Demand for gold is increasing, and because of great returns on investment and the affinity for gold in India, demand is increasing. The determinants of demand are highly responsible for maintaining this instability in current account deficit and "stress on the system" for the Reserve Bank of India.

The balance of payments records two different kinds of transactions: cross-border payments for goods and services (ie, exports and imports), which are recorded in the "current account", and cross-border payments for assets. China's current account is still in surplus, largely because its exports exceed its imports. China is also attracting plenty of direct investment from foreigners eager to buy or build companies on the mainland. But both these inflows of foreign exchange were outdone by a record outflow of other kinds of capital, amounting to a net $110 billion. This left China's overall balance of payments in deficit, diminishing China's international reserves by $11.8 billion (or just under 0.4%).

The article talks about how India's switch of economic policy led to a recovery and is now in rapid economic growth. "Even if capital flows were to reduce to zero as they did in 2008, following the collapse of Leman Brothers, reserves would drop by only $40 billion over twelve months, still leaving a healthy $250 billion or so of cover." The article ends with advice on how India can further strengthen their current state by increasing foreign investments.

http://www.bbc.co.uk/news/business-15701101 I think a better way would be to implement a rationing system. However, this would cost far too much money and will never happen. The end result being that those laying claims on being missold PPI- "No tax is generally due on the repayment element of compensation paid to those missold PPI. However, the additional interest is taxable - in line with other compensation claims." but the "taxman" (the government) gets to pocket lots of tax revenue.

This article talks about the ongoing Social Security debate happening in the U.S. federal government. Some state governments, such as Texas, form their own version of Social Security which has been confusing to the original plan. The trade-off illustrated here is "more you contribute, the more your savings will be." By contributing more money now, you will eventually make more money. However, many people don't want to give up lots of money now!