Monthly Archives: October 2017

Understanding What Makes Them Different

Despite the merits behind hiring a trained planner, many consumers do not understand the benefits of working with the latter option.

Pros of Hiring a Fee-only Financial Advisor

Those who are looking for the best advisors should consider one who is compensated in a way other than commission. These planners look at your entire fiscal situation and give you an honest, objective opinion on what you need to do. While they may suggest purchases of certain products, these will be ones that they believe will assist you in your goals. There is no loyalty to a specific company or product because there is no bonus or commission to earn.

You pay a fee-only financial advisor based on how often you meet with them. You could pay an hourly expense or you could pay a retainer in order to have him or her on call. You may even negotiate payment of a percentage of the investment assets your planner is managing. Each professional has his or her own pay structure.

In addition to having flexible payment options, you can choose between services. Some work with you to provide a complete financial review for a fixed project. You can also find someone to review your investment portfolio or develop a financial plan.

Things to Consider Before Hiring a Fee-only Financial Advisor

For most clients, this type of planner is the optimum choice. However, not everyone works well with a charge-based counselor. You may work better with someone who is either commission only or commission and fee compensated.

There is no guarantee that you will not have conflict. You should check references to ensure that your new asset manager is competent. Working for only a set rate does not equal competence. Those who are experienced working with people nearing retirement would not be the best choice for someone in the private sector.

You also need to check with the counselor about their requirements. Some will work with those who have a minimum level of assets. If you have a small portfolio, then you may not qualify. It is one of the many questions you should ask before hiring a consultant.

No matter if you choose to work with a commission-based consultant, you must be diligent in your search. It is not an easy task to find the right counselor. In order to find the right consultant you should understand not to compensate the advisor but also how he or she works with his or her clients.

Even if you opt for a fee-only financial advisor over a commission-based one, any products suggested should be carefully considered to ensure they meet your needs.

Send Money Abroad In An Efficient Manner

The thing is that they don’t convert one currency to the other on the basis of the inter-bank rate. Instead, they make the exchange at a lower rate making a good deal of profit. Give below are a few tips that may help you go through the process efficiently.

Foreign Exchange Brokers

Acting as intermediaries, foreign exchange brokers deal with a lot of banks and provide the best exchange rates. While their primary role is to convert currencies, they can also help you send money abroad for a reasonable fee.

While this option is cost effective, especially if you want to transfer over $5000, the process can take longer to complete. Choose this option if you don’t have to send your funds abroad urgently.

Commercial Banks

Banks are the most common means of international money transfers all over the world. However, the fact of the matter is that banks are known for charging hidden fees for money transfers, and the fees will continue to go up as the amount of money that needs to be transferred goes up. But the advantage of using a bank to do this job is that banks are considered the safest way of transferring money abroad. So, if you are planning to do the transfer through a bank, make sure you choose a bank that charges a minimum amount for transfers.

Money Transfer Providers

If you want to send less than $5000 to someone in another country, money transfer providers is probably your best option. They are best in terms of cost of transfer. Typically, they offer bank-to-bank transfers. You can also find some providers who allow you to receive cash at cash pick-up branches.

Online Money Transfer

These service providers allow you to send money abroad charging a minimal fee. Usually, they charge just $1 extra for the transfer. Some providers don’t even charge this fee.

These providers are regulated by the financial authorities of the same country they operate in. They use the state-of-the-art financial technology for sending and receiving funds. So, you can count on them with your eyes closed.

With online money transfer, you don’t need to visit a financial office. All you need to make the transfer is a computer and a fast internet connection.

So, before you choose any of the three money transfer services mentioned, do your homework and compare them with each other. You can go with the one offering best services at the lowest cost.

Find Government Grants Money Online to Pay Off Bills

Even nonprofits, states, counties, accredited organizations, foundations, community action agencies and local agencies offer financial support or benefit programs that enable unfortunate families to continue availing services in spite of bill payment dues and help compensate the bills. Have a look at the basic steps or procedures to get a grant to pay off bills.

Steps to Get a Grant for Paying off Bills

Know the process: you must be thoroughly enlightened about the detailed process of seeking grants, where to ask for referrals, look for resources, whom to speak to, where to apply, eligibility criteria, what grants you need etc. A complete know-how is essential at the onset to get going for the other steps.

Make a complete research work: first list down the areas that need assistance or grants such as housing, utility, education, daycare, repair, transportation, food etc. Once done make both online and offline research about the grants that can help pay off your bill dues. Look up at the Grants.gov. site that offers exhaustive information on all the government grants. You can also look at other sites.

Next communicate with local government officials, nonprofits and community action agencies about your situation. Seek for referrals. Reach about grant options in your state by researching online.

Look for government grants or programs: first look for government grants. There are innumerable federal grants that may help in paying off bills. Emergency cash grants, housing, education, home repair, food, unemployment, insurance, medical, babysitting and many other grants are availing. Look for your area of interest, eligibility criteria, paperwork involved or needed and start applying.

Talk to nonprofits: if you can’t qualify for government grants, don’t worry! Ask for assistance or funds from charities, churches, nonprofits, local agencies, organizations or foundations. Such groups provide emergency funds or assistance that can help pay off bills. There are more than 100 nonprofit organizations in US that are committed to render support.

Now apply: once you have decided begin to apply. Download a grant application form and fill all the mandatory fields needed. Provide with all the important paperwork, documents and credentials asked for. Check all details and then apply. Note down the tracking number and keep a track.

If your bills are due and your family is in debts, you can also ask for assistance from debt companies, creditors and legal help from nonprofits. Apply now to pay off the bills and get rid of worries. You can also read Apply for Free Personal Grants.

Article Source: http://EzineArticles.com/9197204

The Basics of Check Cashing Services

The money service industry has gotten larger and this is one of the latest additions to the range of services one can avail.

So, how does this check cashing system work?

Well, it is relatively simple. A person whose name appears on the check can go directly to any of these check-cashing providers. The business will then have to make the necessary verification of the identity. The person may be asked to provide at least two identification cards and/or a bank account. Upon verification, he will be asked to endorse the check and the business will then deposit the amount, less all the deductions and processing fee directly to the bank account. Most of the check cashing business also offer affiliate businesses such as payday loans, bill payments, and money order cashing. The processing fee may vary and some check cashing enterprises may likewise impose a minimum amount.

Advantages of using Check Cashing Services

• This method is advantageous to people who do not have any existing bank accounts. As banks tend to be relatively stricter in handing out cold cash, having to endorse the check to a legitimate business would be more convenient.

• Queues in banks can be extremely time-consuming. Having to spend the entire morning at a bank is not only inconvenient but would require so much effort especially for those who work during banking hours.

• You can have quick access to your money even on a bank holiday. Most check cashing businesses are open seven days a week. They also usually have online portals where your questions can be accommodated any time of the day.

• If there is no check cashing businesses close to your house, simply head to Walmart. They offer check encashing for a minimal fee. A $3.00 fee is deducted to checks, payroll checks, money orders, and tax checks amounting to $1000 or less. For larger amounts, a fee of $6 is deducted. Note that they only encash checks with a maximum amount of $5000. If you live far from Walmart, you may opt to check with major retailers close to your area such as 7-11.

• If you do not have a bank account where the money can be deposited, ask if the check cashing business offers pre-paid card loading system. This is another option. However, this would require activation fee of usually less than $10 per card.

Disadvantages of using Check Cashing Services

• The fees may be quite high. For instance, losing 3% of the check amount of $5000 could instantly mean losing $150 dollars instantly.

• Bounced checks can result to a major legal problem for the person who requested for the check endorsement.

• Not having the right identification card may likewise be a problem. Misspelled names and illegible penmanship on the check can also be questioned by the cashier.