Financial Advice and Its Role in Investment Success

by Kaylie Phelps

Investing is filled with choices, jargon and complexity. This can be overwhelming and often prevents people from starting in the first place. Luckily, you don’t need to do this all alone. You can improve your chances of a successful investment by consulting a good financial advisor. Financial advisors do more than merely pick products or find the best performing unit trusts or investments, they help with your long-term financial planning. They can provide you with the experience and objectivity you need to traverse the investment landscape.

Financial advisors can help you make important decisions, therefore it is important to find someone you can trust. They help to formulate a plan that suits your long-term goals and can steer you away from the pitfalls usually associated with investing on your own. Independent financial advisors can:

  • Help formulate a plan
    A critical component to achieving financial success is a carefully crafted plan. You need to identify your goals and how to get there, which can be difficult for the first time investor. Financial advisors can develop a practical plan to suit your risk profile and goals.
  • Help choose the right products
    There are an overwhelming number of products available, each with their own complexity. An advisor can be invaluable in helping you sort through the clutter to identify the right product suited to your situation.
  • Help account for inflation
    Time erodes the buying power of your money. This is known as inflation. Choosing the right investment can help you achieve returns to counteract the effect of inflation, ensuring that the value of your savings is maintained.
  • Help you preserve your retirement savings if you change jobs
    If you are changing jobs or are retrenched, then it is important to preserve your retirement savings. Failing to do so might leave you with too little money to retire on. Advisors can use their experience to provide you with the best options available to you during this crucial period.
  • Help you to diversify
    Diversification is one of the keys to financial success. Financial advisors can identify the right products to ensure that you have good exposure to various options.
  • Help make rational decisions
    Investors often behave emotionally, which causes them to make irrational decisions. Investors switch hoping to avoid losses, but only succeed in locking in those losses. Advisors can help you avoid switching at the wrong time.

Finding a good financial advisor
You might be able to invest on your own, but you will greatly improve your chances of success if you consult a professional. Your relationship with your advisor is important, therefore you must find someone you can trust and whose investment philosophy you can buy into. Here are a few points to consider when you are evaluating a financial advisor:

  • Are they independent?
    Independent advisors don’t work for a particular provider and thus do not earn commission on certain products. This ensures that they are objective enough to choose the right products and to plot the path to your goals.
  • What type of qualifications do they have?
    All financial advisors are legally required to be licensed by a regulatory body. This typically includes regulatory exams and evaluations, which is an ongoing process. Find out about their academic history and enquire about any other credentials they may have. A financial advisor will provide you with a disclosure document, which contains information on what the advisor is legally allowed to help you with.
  • Find out about fee structures
    Transparency and disclosure are very important, thus you need to ensure that you understand the fee structure up front. Fees are typically charged as a percentage of the investment value, but there may also be other fees involved. Some advisors may even opt to charge for advice directly at an hourly rate. Don’t pay any fees unless you explicitly agreed to them.
  • How can they help you grow your wealth?
    The best advisors take the time to understand your needs and formulate a plan to complement them. They can help you remain rational and disciplined, even during trying times. An advisor’s key role is to help you rationally and objectively manage your savings.
  • Where can you find a financial advisor?
    Financial advisors will help you make some deeply personal and important choices; therefore the most important quality to identify is trust. The best place to start is finding a recommendation from someone you already trust and whose opinions you value. There are also, depending on where you are, a number of services available to help you find the right financial advisor for you.
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How to Find the Best Credit Card for You

by Kaylie Phelps

Finding the best credit card for you can undoubtedly be a tricky process. With so many different options available on the market, it can be daunting to try and figure out which card is going to be perfect for your individual needs and requirements. It’s important to keep in mind that no single credit card is better than others; it all depends on your personal circumstances and the main things that you want from your credit card.

By asking the right questions and doing a little bit of research, it’s easier than you think to find the ideal card to fit your spending habits and credit situation.

We’ve listed some top tips to help you find the credit card that’s best for you.

Tip #1. Check Your Credit Report:

Before you go ahead and start looking for credit cards, it’s a good idea to check your credit report so that you know exactly where you stand with lenders. If you have taken out a lot of credit in the past and have some missed payments on your record, for example, then you might find it difficult to get some credit cards.

On the other hand, if you have a glowing credit report and a high credit rating, you’ll have access to many more options, including cards with perks and bonuses. Some lenders and credit card comparison sites offer eligibility checker tools, which enable you to see which cards you’re in with the biggest chance of being accepted for.

Tip #2. Determine Your Individual Needs:

When it comes to picking out a credit card, it’s vital that you are fully aware of your own individual needs and requirements from your financial product. For example, if you’re hoping to boost your credit rating, then a credit building credit card could be the best option for you. On the other hand, if you want to save as much money as you can on interest, then look for a card that offers a long initial interest-free period. Or, if you want to earn rewards such as air-miles, there are cards available for that.

Tip #3. Work Out Your Budget:

One of the most important credit card tips to take note of before you apply for your new card is to work out a budget and make sure that you’ll be able to comfortably make your credit card repayments. Although you might not be aware of the exact credit limit before you apply, many lenders will be able to give you a rough idea of the amount that you can expect to borrow, along with an estimated minimum repayment amount each month.

In addition, you should also take the Annual Percentage Rate (APR) into account; if this is high then you can expect to pay more interest on your card. Determine what you’ll be using your credit card for – e.g. regular spending or emergencies only, as this will help you to decide whether it’s going to be something that you can afford.

With so many credit card options out there, picking the perfect match for your needs takes some time and consideration.

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Can an MBA Help You as a Small Business Owner?

by Kaylie Phelps

You may have noticed that it is now easier than ever to enroll for an MBA course. Thanks to colleges like Washington State University offering an online executive MBA course, you no longer have to relocate to get your masters in business or cut into your life with your studies more than you want
to. In effect, an online executive masters in business administration means that it is entirely possible for you to do a course like this while also running your business.

However, do you really need to spend time doing this? Aren’t MBAs more for people who are seeking executive level employment rather than for entrepreneurs? Well, actually there are a lot of reasons why doing an online executive MBA program can be a good move for those who run SMEs.

Filling Your Own Skills Gaps

When most of us start a business, there are weaknesses in what we know. Usually, we know a lot about the industry or area we choose to work in, but may not know about some other elements of making a business successful, like finance, law, or marketing. By studying the material involved in an online MBA course, you’ll learn a lot of things that may help plug up your own gaps in knowledge. This will not only make you better at strategizing and a more effective business person but may also mean you have to spend less on hiring third parties to help you.

Gaining Respect from Potential Allies

No matter how you look at it, an MBA is a well-respected qualification and people who hold one are usually accepted as knowing their stuff. When you want to gain investment or form business relationships, being someone who has achieved this qualification and who knows the high-level business information studied on an MBA course, you will find things a lot easier. While you may not plan to go to interviews any longer as you are a business owner, you will still have a lot of important conversations that could help or hinder your career, and being seen as a well-qualified business expert will give you an advantage.

Networking

As previously discussed, having an MBA may well make people take notice of you and treat you with respect in your business dealings. However, another related benefit is the people you can meet while you are doing your course. Even online courses can help you to make contact with other students, and some of these can turn out to be useful business associates later on. If you work in the B2B sphere, this can be especially important.

An MBA isn’t just for people who want to be hired by a company for a job at a higher level. It can actually serve entrepreneurs very well. If you meet the criteria and want to put some time into studying something that can really help you in your career as a business owner, then an MBA is a great choice.

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5 of the Highest Paying Accountancy Jobs in the United States

by Kaylie Phelps

If you’re good with numbers and you see yourself working within an office environment throughout your career, landing a job in the accountancy industry will do you many favors. Not only does the industry offer many career opportunities in various sectors and industries but you’ll also find it’s much easier to get onto the accountancy career ladder when compared with other careers. If you’re looking for reasons to start a career as an accountant, have a look at some of the salaries on offer from some of the highest paying accountancy jobs available.

1. Chief Financial Officer (CFO)

Becoming a CFO isn’t going to come without its challenges and you’ll need to be at least an
accountant manager with a host of experience serving the industry. However, with a median salary of $120,449 on offer, setting targets to become a CFO in the future will pay dividends. You’ll oversee all financial operations and it’s you who’ll make the important decisions to take the business forward.

2. Accounting Professor

If you feel that a teaching role is more up your street, becoming an accounting professor may
provide more benefits. Once you’ve completed your necessary masters in accounting (an online
accounting degree is a good choice) and the other relevant degrees via the UAB Collat School of Business, you could find yourself in a learning role that teaches others more about the world of accounting. A median salary of $113,089 is very much possible in this field, but top professionals have been known to earn nearly $250,000.

3. Corporate Controller

As a corporate controller, you’ll have a lot of responsibility within an organization – and that’s why you’ll be rewarded with a top salary package that could see you earn anything between $80,000 – $200,000 per year depending on the industry you work in. Tracking and monitoring financial processes is a big part of the job, so you’ll be well challenged every day should you opt for a career as a corporate controller.

4. Information Systems Accountant

If you prefer a more technical role that includes working with data and computers, a role as an Information Systems Accountant would suit you. Creating detailed reports, analyzing previous reports and auditing are just some of the daily tasks you’ll oversee. With an industry that is expected to grow well into the 2020s and a basic salary of more than $80,000 on offer, becoming an Information Systems Accountant should be a strong consideration if you like technology and working with numbers.

5. Compliance Officer

If you want to work in an office environment but at the same time, you’d like to mix up your week by visiting other organizations, becoming a compliance officer should be considered. As a compliance officer, it’s your job to determine whether an organization follows national and state trading laws. You can expect to earn over $60,000 on average as a compliance officer.
There are hundreds of various careers available in the finance/accounting industry, so you’ll never be short of choice once you’ve obtained the relevant degrees. With more and more businesses starting every month, becoming an accountant could be one of the top career choices for a competitive salary.

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5 Financial Reasons Why You Should Consider a Career in the IT Industry

by Kaylie Phelps

If you’re at a crossroads in your life and you’re unsure about which career path to take, a career in IT could be the solution. Not all people are suitable for jobs in the IT industry, but those who are, have the potential to benefit financially in different ways. Below are five good financial reasons why you should consider working in the IT industry.

1. You Can Avoid a Large Student Debt After Graduating

Unfortunately, student debt is part and parcel of student life for a large number of students and it can take many years for a graduate to pay off this debt. However, in recent years a wide range of online IT courses, such as the MSSD online program have been developed by the technical departments of many of the world’s leading universities and colleges.
The fees for an online course like an online masters in software development are usually much more affordable than they are for a more traditional, classroom-based course. As well as this, you can study when and where you want, which can dramatically reduce your expenditure while you are completing one of these online programs.

2. You Can Work While You Learn

Unlike many other disciplines, you can put your new IT skills and knowledge to good use before you even graduate. A wide range of individuals and businesses are always on the lookout for people with technical skills who can help them by offering freelance services. The income you make while you’re studying for an IT-related course can be used to pay off any student debts you may have or allow you to avoid getting into debt altogether.

3. IT Professionals Are in High-demand

Once you graduate with an accredited IT-related qualification, your services will be in high demand. You can work in a wide range of technical fields including computer programming, web design, IT security, networking, and IT management. These positions usually come with a substantial salary, with IT pay levels higher than they are in many other industries.

4. You Have Plenty of Opportunities to Advance in this Sector

After getting some experience in the IT sector, there are many opportunities to get promoted and move into even higher paying positions. Some IT professionals start to specialize and some take on more responsibilities and move into management roles.

5. You Will Have More Stability in Your Life

If you’re worried about the future and want more financial stability, a career in IT will give you much more peace of mind. As well as having a higher income, most IT professionals also get generous benefit packages from their employers, including pension contributions, share options, and other financial incentives.

A career in IT includes many financial rewards, which makes it an attractive career path for many people. Once you feel that you are suitable for this type of work, you can become the latest person to benefit financially from working in this busy and important industry.

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What Are Quick Loans and How Can You Get One?

by Mrs Money

Quick loans are a blessing in disguise for all those who face unexpected expenses that require
immediate action. In such a situation, having a money lender that trusts you and transfers the
desired funds to your bank account in a relatively short period of time will save you from mental and emotional turmoil.

It is common to experience a financial setback at some point in life, affecting your stability. Irrespective of how careful you have been and how much you have saved in your lifetime, a financial crunch can be extremely traumatizing.

A financial setback can be caused by numerous events, including a car breakdown, an appliance in need of repair or a larger-than- normal bill can leave you short of funds. Individuals can rely on quick online loan service providers to efficiently deal with the problem.

The question that arises here is – what is a quick loan?

Primarily, a quick loan is an immediate loan that can be acquired by filling a brief online application. Once the application is submitted to an online loan provider, they make a quick decision in compliance with the initial assessment deciding whether they can lend money to your or not. Such online quick loan services have a fast decision turnaround time, making it convenient in time of need. A useful resource that will give you a better understanding of how quick loans work is: https://www.118118money.com/quick-loans/ which tells you all you need to know.

While such loans may sound enticing for all those who need money quickly in their bank accounts, they can be a risky choice, causing further financial debts and damage. Generally, the APR (annual percentage rate) is quite high, making it difficult to pay back.

Understanding Quick Loans

Today, many lenders in the United Kingdom offer quick loans to clients. Such loans are often
referred to as instant loans. Depending on the company you work with, the decision to grant you a loan may be processed in just 15 minutes.

The online form on such websites is the assessment criteria for the quick loan. You will be asked by the lender about your desired amount on the form. Moreover, some vendors may also ask about the number of installments you would require for paying back the loan, while others may have a flexible repayment strategy.

If you are looking for a quick loan, it is important to evaluate your potential options. As all lenders are different, the terms for a loan may vary. For instance, the duration of the loans, terms and nature of the APR have a strong impact on your overall stability. Thereby, it is increasingly important to opt for a lender that you trust wholeheartedly.

Eligibility Criteria for a Quick Loan

If you have already tried your luck with a local bank, then you need not worry. Opting for a lending service that offers quick loans can help. Such companies do not look at an applicant’s credit profile, making loan acquisition easier. The criteria is simple, a quick loan service will approve your loan if they are sure that you will be able to repay your debts.

Generally, a quick loan service will check whether you are a resident in the United Kingdom aged between 18 -70. They will further check your employment status to evaluate your eligibility. You will require a bank account in the United Kingdom with a debit card. Lastly, your net monthly income should exceed £700.

What’s the Downside?

While instant loans may seem like a quick fix, it is not a good idea for those who struggle with clearing their debts. For instance, some lenders may give you an offer with an APR of 1000% – this means that you will make an extremely hefty repayment which will be a lot more than what you expect. Thereby, before you decide to opt for a quick loan it is extremely important to conduct some depth research, evaluating potential options that will be easier for you to manage.

A quick loan is an instant financial solution that comes with its fair share of shortcomings. However, by strategically choosing the right lender with flexible terms can make a substantial difference.

In a nutshell, a quick loan is suitable for all those who are certain that they will be able to make the repayment. Acquiring a loan and not being able to make the payment can further damage your financial stability. Furthermore, it is increasingly important to choose a reliable lender with flexible terms to make the experience smooth and hassle-free.

Many online scams have surfaced recently where fraudulent lenders have misused and cheated
applicants. Thus, to prevent yourself from further damage make sure to opt for a reliable quick loan
service.

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    Welcome! I'm Mrs. Money and I lead a frugal, simple, and debt free life on a modest income. I make money online to help support our family. I believe in saving money, living green, and enjoying life!

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