Category: Finance

Applying And Preparing For The CPA Exams

The state board of accountancy will be providing the application forms which need to be filled out in order to answer the CPA exam. The process of applying for the CPA exam alone can consume a large amount of time and the applicant might not be left with a large amount of time for preparation alone.

Meticulous and methodical planning as well as preparation will be needed in order to pass the CPA exams. All the areas of strength as well as weakness will have to be understood clearly so that extra time can be allotted in order to concentrate on the areas of weakness. They can procure question papers of CPA exam which have been conducted in the past in order to get a fair idea on the pattern of questions which are being asked.

Students preparing for the CPA exams should make sure that there is no area of study which has been left totally untouched. They should overcome the discomfort and difficulty which they experience while studying a tough lesson and bring it to such a level that it is in co-ordination with all the other chapters.

Books which contain sample question papers of CPA exams as well as solutions to the CPA exams conducted in the previous years can be procured in order to have a fair idea of the kinds of questions which are likely to be encountered during the course of the CPA exam. Any person who has decided to take up the CPA exams should begin the process of preparation for the exams with a positive mindset. All the probable topics which could appear in the form of questions for the CPA exam should be practiced regularly. This will help in improving the confidence of the applicant to a large extent. With this, the applicant can be a reliable employee in different companies and can work for FMD account service in Singapore and other countries. 

All the latest concepts and practices in the subjects of accountancy, taxation and auditing should be studied carefully. The syllabus for the CPA exams should be checked out carefully while filling out the application form. This will ensure that the reference books which are being purchased to prepare for the CPA exams contain the latest concepts and theories in the subjects of accountancy, taxation and auditing. The mind should be kept completely stress free else it will hinder concentration while preparing for the CPA exams. There are many software packages which have been designed in order to allow people to prepare for the CPA exams.

Equal time should also be allotted towards the study of each subject while preparing for the CPA exams. A fixed schedule for the preparation for CPA exams will have to be prepared and this will have to be followed regularly. A minimum of 2-3 hours in a day will have to be devoted towards the preparation for the CPA exams. The Internet also contains a large amount of tutorials and study materials which can help people who are preparing for the CPA exams. There are also many CPA exam preparatory courses which can be utilized.

How To Choose Your Financial Planner? Four Steps To Adhere To!

Financial planning refers to the steady address of all monetary problems. Under its broad umbrella, current assets and financial conditions are analyzed to ensure safety. Proper planning of your expenses is mandatory to avoid future monetary risks. If you fail to understand the picture of your own finance, the financial planner comes to your rescue.

The planner is one such individual who undertakes the financial journey for you. He or she guides you to help you reach your desired financial goal. Whether its quick saving or adjusting your expenses, a financial planner can assess each and every situation the right way. 

Therefore, if you are in need of a financial advisor in Atherton, here are some steps to choose one today!

The guide to help you choose the right financial planner:

The financial planner or advisor makes things clear from the financial point of view. If you are spending too much money, the planner can accordingly adjust your expenses and help you save more. But how do you choose a reliable financial advisor? Here are four important points listed to help individuals with the same:

  • Check the background of the individual-

To pick the right financial planner today, you must be sure of his or her background. Do not be misguided with false impressions. Learn more about the person, the services offered, and more on past experiences. 

Since all matters are related to your money, you have to be sure of how to have the right individual on-board. If you are satisfied, you can contact immediately and start working on planning your finances. 

  • Get in touch with the various services offered-

Some planners offer various types of monetary service. Things related to investments and even insurances are sorted out. Try to gather as much information on the services for better understanding. This will help you step towards a financially stable future.

  • How much do you have to pay-

A good planner is transparent when it comes to fees. Sometimes, the fees are typically low, as they aim for perfection when assisting his or her client. Helping comes first and that is what a financial planner concentrates on doing. Therefore, check on the amount to be paid before you start your consultations. 

  • Understanding and reliability-

If there is one factor that you should not forget, then it has to be reliable. The planner must be trustworthy and reliable. The individual should chalk out a plan to transform your financial condition. A good planner will always have a holistic approach towards helping you with a secure monetary future!

The final conclusion:

A good financial advisor in Atherton will feel the need to transform your monetary picture of a better future. In short, if you lack financial aims in life, the planner will sort it out for you. In fact, this is the basic job that the planner is entrusted with. Therefore, let the advisor assist you in your journey of becoming more financially strong and independent!

Help Your Kids Avoid Student Loan Defaults

As a parent, I am torn between encouraging my kids to follow their dreams and tempering those dreams with a dose of reality. I want them to believe in themselves, and to chase whatever rainbows they seek while they are young, but as they grow into adulthood I want them to get real about where those rainbows lead. I don’t just mean that I want them to realize at some point that their chances of becoming fairy princesses or legendary heroes are slim. I want them to enter adulthood with realistic expectations, following dreams that will provide them with happy and successful lives while leaving them unburdened with decades worth of debt.

Too much debt

Pretty much everyone agrees that the United States has a student loan problem, although some stop short of calling it a crisis. While people are split on how to handle the issue, there is no denying that skyrocketing higher education costs combined with increased student loan debt need to be addressed.

Personally, I plan to deal with the student loan crisis at home. My husband and I both took out student loans when we were in college, but we paid them in full without ever trying to duck our debt. I expect no less from our kids if they should happen to use loans to finance their education.

Parents, train your children

The parents of today’s debtors are as much to blame for the student loan problems as anyone else. They allowed their children to grow up believing that they could be anything and do anything they wanted, but without ever telling them that some dreams are cost prohibitive.

In story after story about the student loan crisis, cases of students owing $100,000 or more are cited. Many of these students hold degrees that they can’t even use, or degrees which hold such low earning potential that the chances of ever paying off such staggering debt is extremely low. Parents of these students let their kids grow up chasing dreams headlong into massive debt, and it’s caught up with them.

How to avoid big debt

The best way to avoid big student loan debt is to raise the next generations of children differently. We have to get smart about debt as parents, and let our children know that no matter what the family desires, if the debt load is too high, the answer is no. This applies to everything from the latest gadgets and trendiest clothes to the most prestigious universities.

When it comes to student loans, we need to teach our children early to be honest with themselves. Do the math, and help them see how long it would take to pay off a student loan if their loftiest career aspirations don’t pan out. Research the earning potential of different degrees and career paths, and help them make wise decisions so they don’t spend the next few decades in debt. Help your children find degrees that are marketable and still offer the rewards and challenges they seek.

Better solutions start at home

There are many alternatives to running up large amounts of student loan debt. Your child may choose to go to school at a smaller, state university rather than a large out-of-state private school. Or they may choose a degree that will increase their upfront earning potential. If your child does not earn scholarships or grants to pay for school, they may choose to go part time while working, so that they are not saddled with so much debt when the graduate.

All of these decisions should be made early, some of them during your child’s junior year in high school. Therefore, it is not too early to start talking about options for avoiding student loan debt as early as middle school. If your kids understand it is a priority that they live happy and successful lives, unburdened by debt, they will be more likely to make smart choices when they start college. And that’s not just good for them, it’s good for the country.

A Beginner’s Guide to PayDay Loans

Pictures this, your car just broke down and you need $300 to get it out of the shop. What do you do if you don’t have any money set aside, poor credit and you can’t go without a car until you get your next pay check? Well, a payday loan is one possible solution, but you should know what you are getting into.

Not a Long Term Solution

Payday loan companies have wording in their contracts that states that a payday loan is a short term financial solution and not intended to be a long term debt solution. The disclaimer is required by law. The reason is because the longer you have your payday loan; the more you’ll pay in interest.

Extremely High Interest Rates

Interest rates for payday loans are roughly between $15 – $30 or more per term for every one hundred dollars you borrow. A term is defined by the amount of time between pay periods. Policies for the time frame between when you first take out your loan and when your first payment is due varies between companies.

Pay More than the Interest

Payday loans can become a vicious cycle for some people. If they get their next paycheck and all they can pay is the interest payment due, then the loan rolls over and continues to accrue interest. If you can’t pay the loan in full, at least pay more than the interest so that your principal goes down. As you pay down the principal loan, the interest rate drops as well.

Don’t Get Trapped

Even though most states have laws that limit how long a payday loan can be renewed, payday loan companies have ways of working around these laws. They may only allow you to pay the minimum interest payment for 3 months before you have to pay off the entire loan, but you can go in with your full paycheck and pay off the loan. After that they will give you a new loan on the spot; which is the same as making an interest only payment.

Never Double Up

If a pay day loan customer has trouble paying the minimal interest payment, he or she may borrow money from another payday loan company in order to make the payment. Well, unless you can borrow enough to pay off your first loan in full, then next pay period you’ll have two payday loans due instead of one. Even if you can borrow enough to pay off the first loan, you’ll end up paying more on the newer loan because it’ll likely be higher than your original loan was.

If you let them, payday loans can continue for years and you end up paying a small fortune in interest. You can also potentially get yourself in way over your head financially if you take out multiple payday loans. Payday loans should be used for emergencies only and, just as the name suggests, you should try your best not to keep any payday loan longer than one pay period.