Blog – Page 4 – Bright life Daily

Financial aid for exceptional students through SMART Grants

30Jan

By BLD EditorsNo Comments

Dollars & Pennies

Financial aid for exceptional students through SMART Grants

The country has planned to extend several financial aids to meritorious students. One of those aids is the National Science and Mathematics Access to Retain Talent Grant or simply SMART Grant. The grant is accessed to students desirous of pursuing courses of Physical, Life, or computer sciences. The other subjects for which the grants are also allowed include Mathematics, Technology, Engineering, and others. Students pursuing a liberal arts program and foreign languages that are critical for national security may also be considered eligible for the availability of this loan. The emergence of SMART Grant The grant has been approved by the Congress in the year 2005 with the submission of a proposal by the Department of Education. The proposal expressed its aim to reward meritorious students ...

Factors to consider before hiring a financial advisor

30Jan

By BLD EditorsNo Comments

Dollars & Pennies

Factors to consider before hiring a financial advisor

Financial advisors help their clients to invest, save, and grow their finances in the best possible way so as to reap benefits from them. However, when and how to choose a financial planner is something that concerns many investors. This article discusses some of the important factors that are crucial while hiring a financial advisor. Look for fiduciary planners A fiduciary financial advisor is one who has the legal obligation to give priority to the clients’ interest more than its own. They pledge to act in the best interests of the clients. Therefore, they are considered to be more ethical than professionals who are not fiduciaries. This is a very crucial distinction and one should get it in writing from the firm from which the services are being used. Check the planner’s backgro...

30Jan

By BLD EditorsNo Comments

Dollars & Pennies

Benefits of hiring a financial advisor

Almost everyone of us wishes to have a secure financial future. Dealing with everyday financial issues like paying bills, mortgages, kid’s educational expenses, house loan etc. and then looking to make savings can lead to a lot of stress. Hiring a financial advisor to look after these affairs on your behalf will surely help in reducing those stress levels. Here are some of the benefits of hiring an efficient financial planner. They bring in proactive ideas and strategies Financial advisors have more knowledge and experience regarding matters of investment. Thus, they can bring in more proactive ideas, strategies, and developments. This is the reason why financial planners charge you a good amount of money for working. Investing for a good planner might be a time-consuming task, and one mig...

Basic financial tips for first-time home buyers

30Jan

By BLD EditorsNo Comments

Dollars & Pennies

Basic financial tips for first-time home buyers

Buying a house that feels like home is something that everyone dreams of at some point in their lives. Your own house signifies that you have accomplished a certain level of stability in life; you have full control of what goes inside and around your house. In a rented facility, for instance, you hardly have any control over several factors – you probably would not be able to make wishful alterations to the interiors without the prior approval of the owner. Also, when you own a house, there will not be a dangling burden of rent over your head every month. However difficult the process might be, possessing financial skills for home buying smoothen the process of buying a house. Before you delve into the technicalities of finances required for buying a home, here are some basics financial sk...

30Jan

By BLD EditorsNo Comments

Dollars & Pennies

Basic financial skills to master

Irrespective of whether you are a homemaker, a college graduate, or a working professional, it is important that you learn certain basic financial skills. Managing your finances is not difficult, but if not dealt with a certain level of expertise and knowledge, you would experience a shortage of cash flow, causing a dip in your savings. Additionally, developing certain skills will help you in the future. Differentiate between your wants and your needs Prioritizing wants and needs is one of the most important financial skills. You only need an item, if it is essential for your daily operations. Therefore, you probably do not have a choice but to purchase it. On the other hand, your want arises out of the need for adulation. It is not to say that you should not cater to your desires or...

30Jan

By BLD EditorsNo Comments

Dollars & Pennies

6 common financial mistakes people make

There are some financial mistakes people commit unknowingly. By the time they realize what has gone wrong, it could be too late. The article presents six of these common mistakes. Reckless spending When one has a credit card with a fairly large spending limit, one tends to spend recklessly without worrying about how they will pay the bill. Spending more than what one can afford and excessive spending for frivolous reasons is one of the major financial mistakes people commit. They then only pay the minimum dues leading to a situation where they pay high interests. If not stopped, this can go out of control and ruin one’s financial future. Too much of debt One of the common financial mistakes people make is getting into debt. When one takes too many loans, it creates a situation where the mo...

5 simple financial skills to master in your 20s

30Jan

By BLD EditorsNo Comments

Dollars & Pennies

5 simple financial skills to master in your 20s

Managing money is a skill that very few learn well, but money management is not exactly rocket science. It is more of a question of how willing you are to make the best use of your hard-earned dollars. Of course, choosing to be frugal is a good option, but it is not for everyone. A minimalistic lifestyle has its own charm, but everyone needs to splurge once in a while. Moreover, you need to have enough funds to have an acceptable social life while paying utility bills and rent on time. How to do this? Here are a few basic financial skills to master. These will help you spend wisely and save for your future without worrying about going broke. Set up a budget: You need to learn how to give every single dollar that you earn a purpose, or a goal—a dream holiday, down payment for a car, o...

5 instances where hiring a financial advisor can be useful

30Jan

By BLD EditorsNo Comments

Dollars & Pennies

5 instances where hiring a financial advisor can be useful

Financial advisors are qualified and trained experts who provide sound advice for money management. Individuals and business owners can benefit immensely from their research and recommendations. They help achieve financial goals and even your personal financial targets in the long term. Often, many debate the need for a third-party advisor. However, this could be subjective to the situation. When to hire a financial advisor For family planning It may sound obnoxious the first time you hear about someone hiring a qualified professional to manage their household finances. In today’s economy, however, paying for life insurance, estate planning, saving for college expenses–in short, the cost of starting a family can be pretty overwhelming. No doubt there are tons of investment opportunities an...

5 financial skills to master in your 20s

30Jan

By BLD EditorsNo Comments

Dollars & Pennies

5 financial skills to master in your 20s

To become a successful businessman or financial expert, you have to gain the knowledge and skills related to finance. It is important for you to work hard and remain proactive to master the necessary financial skills. This will let you become successful as a finance manager at home as well as your organization. Given here are five such financial skills to master your 20s: Monitoring the account every month There are many people who find this a daunting job, but putting in some efforts and monitoring the financial account is really useful in the future. It will let you know the exact balance in your account and prevent you from overdrawing. You can keep track of the monthly fees and pay immediately through overdraft if there is anything due. Monitoring the account will help you to identify ...

5 essential financial skills to master for everyone

30Jan

By BLD EditorsNo Comments

Dollars & Pennies

5 essential financial skills to master for everyone

Everyone knows the basics of personal finance management—budgeting and saving. However, very few of us rarely use these basic financial skills. Many people often go through their life without proper planning of their finances, until a rainy day strikes. When you are unprepared, everything can only go downhill from there. The best thing to do here would be to follow the Boy Scouts motto, “Be prepared.” How to do this? By managing your hard-earned money well and mastering a few financial skills. Managing money does not require you to be a math whiz. It is very simple to learn and acquire a few useful financial skills. You just need to have self-discipline and self-control. Being organized also helps when it comes to making prudent financial decisions. Here are a few financial skills to maste...