Month: January 2011

Posted By Mays Financial

Getting Ready for College? Use These Checklists!

Preparing for college can seem overwhelming. We not only worry how we’ll afford it, but we’re not sure where we want to go, what we want to study, what paperwork we need to fill out or who we need to talk to. Things may become even more intimidating if we’re adults that have been out of school for a long time.

Thankfully, along with providing student aid, our federal government has put together a lot of resources to help us reach our educational goals. Below are college preparation checklists from the Federal Student Aid program that will help you prepare for college no matter what stage of life you’re at.

General

Pre-High School

High School

Money for College

Posted By Mays Financial

Have an Estate Plan Yet? Do it in Six Simple Steps

Estate planning is arguably the most underestimated area of financial planning despite its importance. It can also seem overwhelming, but it doesn’t have to be. Start an estate plan for yourself or a family member in six steps.

The objective of this web course from Purdue University is to help organize your information and ideas before meeting with an advisor about estate planning in six simple steps. Accompanying each step below are links to additional resources to help in the process. Access the course here or via the links below.

Step 3: Develop objectives

Step 4: Choose advisors

Posted By Mays Financial

Can’t Afford College? Consider Federal Student Aid

Whether for ourselves or our children, how to pay for college is a common question that many of us have. Thankfully there are multiple options. Our federal government funds the largest source of student aid in the United States in the form of grants, loans and work-study programs which are all primarily needs based.

Three most common types of student aid:

Grants: With grants, repayment is not required and they are given out based on need, enrollment and tuition.
Loans: Student Loans are financial aid that is borrowed. They accrue interest and must be repaid. Student loans are available to students or parents to pay for their dependent children’s education (typically undergraduate only).
Work-Study Programs: Work-study programs allow students to work in exchange for education funding while enrolled.

Visit the Federal Student Aid website for information about eligibility, how to apply, and more.

Posted By Mays Financial

How To Plan For A Secure Retirement

Planning for retirement is incredibly important, but can seem overwhelming. This helpful retirement planning course by Purdue University will help you get started and answer some of the most common retirement questions. Interested? Check out the opening lines of the course:

“Are you looking forward to the day you retire? Or, do you dread the thought? Being able to retire when you want and how you want is important to many people. Planning ahead can put you in a position to live comfortably during your retirement”.

Access the course here or via the links below.

Posted By Mays Financial

Personal Finance: Money, Credit, Debt & Homeownership

This section covers money management, budgeting, loans, debt, savings, homeownership, family finance, bankruptcy, foreclosure, and credit. The website is managed by a nonprofit organization called Money Management International (MMI), which offers financial counseling, education, workshops, and debt management/consolidation. In addition to the below, there are other useful sections of the site like Ask the Experts, various media, quizzes, and more.

Below is a link to each financial education section as described by MMI on their site.

Family Finances

Learn how to set a foundation of good personal finance skills—no matter what stage of life you’re in.

Homeownership and Home Loans

Learn more about buying, financing, maintaining, and protecting your largest asset.

Loans and Debt

If you want to control your money—rather than allowing your money to control you—it is important to learn how to manage your loans and debt.

Savings

Adequate savings is the cornerstone of financial security. Learn how to protect your financial future by saving for both goals and emergencies.

Credit Reports and Credit Scores

Good credit is an asset. Learn how to establish or reestablish your creditworthiness. Also learn how to ensure that the information in reports is accurate.

Bankruptcy

Read tips that are helpful before, during, and after filing. Also learn how to meet the bankruptcy counseling and education requirements.

Earn More

Earning more money is not nearly as hard as it sounds. With a little planning, earning more can certainly be within your reach.

Love and Money

Becoming a couple changes your financial situation. Find the resources you need to stay committed to successful financial planning together.

Youth and Money

It is never too early to start teaching young people the financial skills they will need for life. Find the resources you need to raise children to be financially successful adults.

Money and Budgeting

Knowledge is the key to successful money management. Our resources are designed to inspire and assist you as you begin to make positive changes in your financial life.

Financial Crisis

A financial crisis can be devastating. If you are facing a financial setback, it is time for planning, not panic.

Posted By Mays Financial

40 Money Management Tips For College Students

This manual is another excellent resource from the National Endowment for Financial Education (NEFE) that focuses on many aspects of managing finances. Though the content is directed towards college students and getting a solid financial start in life, readers of any age and financial level can benefit.

The manual can be accessed HERE.

Visit NEFE or SmartAboutMoney for more free financial resources and information.

Archives for January 2011

General

Pre-High School

High School

Money for College

Three most common types of student aid:

Visit the Federal Student Aid website for information about eligibility, how to apply, and more.