We all know how difficult single parenting can be. It is not only physically exhausting, but also can put a lot of stress on the finances of a family. Imagine a mother working for eight to ten hours a day, then doing the household chores like cooking and cleaning and taking care of small children. Thus, it is a very tough and fast life for single mothers, and this leaves for them very little time for themselves. So, if such a woman is interested in continuing education, what should she do? The financial aid for single mothers provided in the form of grants and scholarships can help them to a great extent to achieve their educational goals and targets.
The Federal Pell Grant for single mothers has become very popular because of its great offerings. With financial aid received from this grant, single women with kids can complete their degree education from a reputed educational institution. Once you are declared eligible for this grant, you will receive regular checks to finance your study requirements. The Obama College Grants
Not everyone can afford to go to college, with the huge fees that are required. However, a lot of students do receive different kinds of financial aid or scholarships based on different factors. There are certain requirements that need to be fulfilled to obtain financial aid for college. For one, you have to be a citizen of the United States of America. Next, you will have to document proof that you indeed need the money. Not only your need but your abilities as a student play an important role. Your grades in school, along with participation in extracurricular activities will help in determining your chances of receiving financial aid. There is no limit to the number of times you can apply. It is awarded to deserving candidates each year, and depending on your circumstances, you may be able to receive financial aid upon reapplying. With this information, it is important to understand how you can apply for it.
Applying for Financial Aid for College
All students who wish to apply for federal financial aid must fill out the Free Application for Federal Student Aid (FAFSA). It is a general
While there are a lot of scholarships and grants available for a college education, more than 60% of those aspiring for graduate courses have to raise the money needed on their own. The prospects of a graduate degree are great, as people with a graduate degree earn twice as much as people who have stopped at a bachelor’s degree. With more realizing the potential of a graduate degree, graduate programs are being sought after across the country. Although any wish to enroll in a graduate program, the question in their minds is whether they can afford it. Rising costs and lack of funding have nudged universities to increase their fees and cost on amenities. Students are pushed to desperation, seeking part-time jobs to complete their educational aspirations.
The recent changes made by the government at providing subsidized loans to graduating students has ushered a new wave of optimism among them. Helpful ways are suggested to fulfill financial obligations. Some of the options are government loans, on campus jobs, teaching assignments, etc.
An assistantship is a great step to get a financial aid for a
A grant is a financial assistance that is provided to people to help support a particular cause. It can be both need-based as well as merit-based. In the US, there are 26 Federal agencies that offer over 1,000 grant programs annually in various categories, viz. Agriculture, Business and Commerce, Community Development, Disaster Prevention and Relief, Education, Employment, Labor and Training, Arts, Energy, Environmental Quality, Food and Nutrition, Health, Housing, Humanities, Information and Statistics, Law, Justice and Legal Services, Natural Resources, Recovery Act, Regional Development, Science and Technology, Social Services and Income, Security and Transportation. In addition to Federal grants, there are numerous private entities that also provide assistance.
Availability of Federal Grants
It would behoove the readers to note that, although there are numerous federal programs, very few of them are available to individuals. Moreover, they are not provided for personal financial assistance. Typically, federal grants are made available to the following entities: Government Organizations, Educational Associations and Organizations, Public Housing Organizations, Non-Profit Organizations, and Small Businesses.
Generally, they are available to non-profit organizations and are for non-commercial purposes. Some are provided
Receipts and bills are commonly issued by service and utility providers as an acknowledgement towards payment of dues and charges by you. Some recurring bills and receipts go on piling up in heaps every month. Many people are actually confused with how long they need to keep these bills and receipts and so, they go on retaining them for years together. Suddenly they realize that, the receipt pile is occupying a major part of their drawer or filing cabinet. This space could have otherwise been used for storing other documents. Well, my article will help you deal with this very problem. Read on…
Valid Duration of Receipts and Bills
Gas and Electricity Bills
These documents make for a good proof of payment as well as proof of address. If there are any kinds of disputes pertaining to these bills, they ideally get solved in less than a year’s time. However, I suggest that these bills should be retained by you for not more than 2 years at a time.
Credit Card Bills
Credit card payment bills and receipts can usually be disposed off within a period of 50
Whether you are going to set up a new business, or just want to donate something for a noble cause, you can do this efficiently even if you do not have enough cash. All you need is to think of some unique ideas to raise funds from your friends, relatives, and also from the public. Let’s have a look at the various ways in which money can be raised for different purposes.
Fundraising for Charities
Before you begin your fundraising drive, try to collect all possible information regarding the cause, as well as the way the money is going to be spent. This would increase your credibility in the eyes of the public. Here are some simple, yet effective ways to raise money for a charitable cause.
Yard Sale: A yard sale is an excellent idea for raising funds for a charitable cause at the expense of some unwanted stuff around your house. You can take the help of your friends or family members to organize a yard sale. It is preferable to organize it on weekends, as this would give you more time to explain
Whether you are already a business owner, or are starting up new, the first thing that you will think about is finance. There are many ways of going about getting the money you need.
That said, you must also take into consideration several factors before you get the money. Have a look at the various options you have in front of you, and compare it with your business plan and projected revenues. Realistically speaking, identify how you would be able to repay the money that you are borrowing.
Here are some ideas that will help you get the money you want.
Savings Account: Here we are talking about your own savings account. Before you dip into your kitty of savings, consider the following: How much savings have you got in that account? Are you dependent on that money for your day-to-day expenses? How confident are you that your business venture will succeed? Be realistic while you make these considerations. If the savings account is not something you depend upon, and you can afford to forget about the money
Money. That which makes the world go round. It all boils down to the money that we have at the end of the day. Money determines the way we live, what we do, and basically every other decision of our lives. Without money, we are basically nothing. And that, I know, is something that no one will want to go through. So it becomes imperative that we earn well. But earning well is not the end all of everything. It actually begins from there. Money which is earned, needs to be managed well, so that we continue to benefit from it for a long time. And therein comes the part where we need to learn some basic money management skills. Because without these, we will not be able to develop effective methods of money management.
Most of us do not have the knowledge of what some of the most simple and effective money management skills are. So to help you out, this article shall provide you with just that.
Money management skills are not difficult to learn once you
You always want to provide what is best for your family; the best of the education for your kids, the best of the living standards, the best of the vacations, the best of the amenities, and the best life. ‘There are no free lunches’ and nothing in this ‘best world’ is going to walk up to you, just because you wish it. A well-calculated plan is a crucial tool to make your family’s dreams come true.
A professional can guide you through at this juncture. On a self-help basis, decide your goals. If you are planning to start a family and are still a ‘double income no kids’ couple (DINK), then this is the right time for you to chalk out a financial plan for the family that you wish to start. Often, DINK couples indulge in spending beyond their means and now is the right time to set your budget. Begin investing in some baby items like cradles and other furniture. This would also be a good time to put aside a few bucks for the maternity expenses and also for the additional baby needs
When you are a teenager, you often have a limited amount of money at your disposal. So, it is very important that you spend that money judiciously. It is likely that, you are unable to figure out as to where all your money has gone. It is an indication that, it is high time you develop the habit to monitor your expenses and spend more carefully. Some of the tips given below can help you in this task.
The money that you get every week or month is fixed. So plan your expenses in advance. Make a list of those expenses that are essential and allot a certain amount to each of them. It should include major expenses like cell phone plans, restaurant bills, gas for car, etc. Additionally, a small amount has to be kept aside for some minor unplanned expenses, which are bound to happen.
Monitor your Purchases
Planning your budget is not very tough. But sticking to the budget is a difficult task. Keep a close
A financial planner is a professional who helps us with our financial issues. He is of great help in areas such as personal financial planning, investment planning, risk management, and insurance, as also in cash flow management. Here we take a look at the duties of financial planners and their job responsibilities.
He provides his clients with valuable guidance in taking major financial decisions and informs them about the short-term and long-term consequences of the same.
He helps the clients assess their financial assets, determine their financial goals, and weigh their economic resources to take investment decisions.
The duties of a financial planner also include the setting of financial goals with the client, gathering the client’s financial information, analyzing it, and designing a financial plan for him. It is a financial planner’s duty to implement the planned financial strategies and monitor the client’s financial decisions.
A financial planner helps the clients in risk management by assisting them in choosing suitable insurance schemes. He helps them plan for the future by providing them with well-suited investment options. He helps the client ensure financial independence
Auto financing is considered by a lot of people as a good means to improve credit score. These are a form of secured loans, as the car is a collateral with the lender till the money is not paid back. In case the borrower fails to pay it back, the car is taken by the lender and can be resold to recover the money. This makes the approving process a little relaxed, thereby encouraging bankrupt or poor credit history individuals to go for it. Also, as the individual keeps making payments for the borrowed amount, his credit score starts improving, and he starts his journey towards financial recovery.
Obtaining Finance After Bankruptcy
The best option left with them is a bad credit car loan. Its peculiarity is that the interest rate charged is higher than what is normally prevalent in the market. However, the primary reason why this type of loan came in existence is to provide bankrupt individuals with finance when needed. Money lenders providing finance under this category also cater to individuals who have had a mortgage foreclosure, have poor credit scores, or a bad
A good credit score is indispensable for people desirous of availing a loan. Every person has 3 credit scores supplied by the 3 credit bureaus, viz. Experian, Equifax, and TransUnion, that use a statistical credit scoring model for computing credit scores. The first credit scoring model was developed by Fair Isaac Corporation (FICO). Today, bureaus use different credit scoring systems, nevertheless, FICO scores have become synonymous with credit scores. As a rule, a FICO score of 620 or less results in the consumer being classified as sub-prime. Such a person will face considerable difficulties while availing auto loans. Poor credit poses an increased risk to the lender, since these individuals may be unable to make good their financial commitments. This is on account of the lack of credit worthiness as measured by the FICO scores.
Characteristics of Auto Loans for People with Poor Credit
As mentioned earlier, people with less than satisfactory credit scores will be forced to avail poor credit auto loans. All such car loans have the following characteristics.
Rate of Interest
Individuals with poor credit scores cannot hope to avail a loan at the prime rate of interest. In other words,
Pre-approved auto loans are a great way to shop around for your dream car, ensuring that you get the best deals available in the market. You first get them sanctioned with a certain credit limit, and then choose the car which you want to buy. These financial provisions are a great way to save time and money, and they help in easy facilitation of the car loan.
These loans works in the same way as a pre-approved housing loan. You first set up a meeting with a lender, to know about the loan amount which can be availed. He provides you with an application form and after filling it, he gives you a blank check having a certain credit limit. This allows you to conduct a study of many vehicles of your choice, which fit in your budget. The check is valid for a couple of months, and even if you do not use it, no penalties would be involved. Once you are sure about the vehicle you want to buy, you can sign the check and purchase it.
A Few Tips
Most people are well aware about the necessity of securing sufficient coverage for their property like homes, cars, and so on. This is because everybody realizes that these things can some day be damaged, stolen, or lost, leaving them struggling to get replacements.
But what about coverage for the things that cannot be bought at a store, put a monetary value on, or be replaced? For instance, things such as financial protection for the future, maintaining an accustomed standard of life, sustaining a good quality of life, and of course peace of mind. This is where this policy comes in.
A personal umbrella insurance cover will augment the coverage you already have on your home and vehicle, just by paying a small premium, thus, providing you and your assets an additional level of protection. So, why would you need this extra layer of protection? Well, it’s always best to be prepared in case you are sued for a higher amount than covered by your existing policy. For, if that were to happen, your whole lifestyle could be
These days, most of us ensure that we have the proper insurance policy for almost all items we buy. From a smartphone to a car, or a home, everything needs to be insured, to limit our losses. The knowledge of concepts such as actual cash value is necessary for all those who wish to buy a new insurance plan.
Actual Cash Value Defined
Actual cash value computation is done by considering the price of an item, when it was new, and then deducting depreciation from it. The insurance company pays this amount to the customer who has had insurance and has claimed for the same.
The depreciation is decided by the insurance company, by being just, and taking into account some fundamental factors that affect its value over time. More the number of years of purchase of the commodity, lesser would be the amount of money which the customer might get from the insurance company. This concept can be grasped well by considering this simple example.
Let us assume that a customer buys a bike and has an auto insurance policy for the
The field of accounting has opened up new job opportunities for many young graduates and postgraduates. Due to increased corporate activity, the need for accurate accounting is increasing and hence accountants will be in great demand in the time to come. In fact, this is being rated as one of the fastest growing careers for the next few years by many experts. To succeed in the world of accounting and get the best entry-level jobs, you must be aware of the eligibility requirements and qualifications for these jobs.
Getting Entry-level Accounting Jobs
The most popular entry-level jobs in the accounting field are mainly those of junior accountant or level one accountant. These jobs are being created in the government as well as the private sector and can really pay well if candidates work with determination and professionalism.
To get these jobs, one needs to have a bachelor’s degree in the subject of accounting, from a recognized university. A master’s degree in accounting can help the candidates grab the best jobs in the market. They can even dream of working for multinational accounting and taxation firms, if
The cost of making a particular product or delivering a particular service is calculated by the finance and accounts department, with the help of a technique that is termed as Cost Accounting. The principle of cost accounting is very simple. The total cost of manufacturing a set or lot of goods or services is added up together and divided by the number of units that have been produced, which gives the per unit production cost. Cost accounting also reveals unneeded expenditures that are titled as ‘overheads’. The accounts department also derives some financial statements that give us a specified amount of overheads that are incurred.
What is Cost Control
There is no exact rule or definition of cost control. The term cost control implies the usage of policies and internal rules that help you to cut the cost of a particular management process. Cost control methods target the reduction of cost, and maintenance of quality and quantity of a particular production process or service generation.
Methods of Cost Control
Any business or corporation has to encounter difficulties, which are practical, financial, as well as technical. The ones that survive these difficulties live to
Almost all professions have a standard code of conduct which consists of certain guidelines that need to be followed. The Generally Accepted Auditing Standards (GAAS) are a pre-defined set of criteria to which all the certified public accountants must abide by. These determine the quality and the efficiency of the audits done, be it of a private firm or a government entity. They are also followed when it comes to passing a judgment on the work done by an auditor.
Establishment of GAAS
In the United States, there are 10 standards which were established by the American Institute of Certified Public Accountants (AICPA) in 1947. Although, with time, there have been minor amendments in these standards, but the basic rules still apply.
The 10 GAAS to Follow
The list below is based on the general working standards related to the field work, interpretations, and reporting.
In order to perform an audit, the auditor must possess adequate amount of proficiency through technical training.
It is also necessary for the auditor to consistently keep an independent approach in terms of his/her mental attitude, when
For an organization, its success and performance is a combined effect of its resources, people (labor), capital, opportunities (market), and management. For any person outside the organization, the success or performance of the organization may not mean anything until they are measured and represented in terms of profits. Thus, it becomes necessary to translate the effects of opportunities, efforts of labor, management, etc., into some accounting numbers, which will help measure financial performance, success, and profitability of an organization.
Thus, accounting helps in achieving internal and external reporting of resources, capital, etc., and also in managing them for earning better profits for the company. Accounting provides necessary information to the investors as well as the management, and helps them in the process of decision-making. So, financial accounting is a process that must follow regulations such as accounting principles, standards, and ground rules.
Basic Accounting Concepts
Because different people and entities use these financial accounts for their respective purposes, the Financial Accounting Standards Board (FASB) has set up a list of rules known as accounting standards and generally accepted accounting principles (GAAP), which all the