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In a market increasingly competitive world, education is becoming more and more importance. However, many families find the cost of education out of reach. According to a study conducted by the Department of Education United States, 02-2001 to 11-2010 school year, the cost to attend a state university for four years increased by 47.3 percent.

With education costs ever increasing, many families accumulate significant debt, putting the most disadvantaged students. However, financial planning and management, students can control their finances. Here are some tips for parents of prospective students.

Start the conversation. Talk to other parents, teachers and guidance counselors about the cost of education. Contact financial aid offices for students of universities in the list of your child and get an accurate estimate of the cost of each institute. What is most important, talk with your child. It is imperative that your child learn the process of preparing a budget and very soon will have to manage their finances outside the home.

Set a budget and stick to it. Once you have an established budget, add flexibility for other unpredictable expenses. Be sure to prepare this budget realistically. The calculation of the cost of pens and pencils may seem ridiculous, but if your budget is limited, any expenditure account.

Connect. Monitor its financial expenses is easier than ever. From applications of smart phones to free financial planning software, you can get a proper financial report at any time. Do some research into the banks to determine which offer services to help you keep track of your budget. Also, consider connecting your bank account with that of his son, to transfer funds online with ease.

Make a plan. When a debt is assumed, it is important to have a plan to cancel. Calculate monthly payments and the time your child will take off the debt. Research salary scales in the field where your child plans to pursue a career in order to understand the debt that can realistically meet. Read the rest of this entry »

The first thing a person tends to do when you need advice on finance is to go to an adviser to a bank, an insurance agent and, perhaps as a third option, a stockbroker. These have been for decades the most widely used financial guidelines. The most traditional marketers of the products of the companies they work for and maintaining a dual role: firstly, advise the customer, other charge for selling financial products offered by your firm.

The next thing would be that, when in doubt that the traditional consultant an independent opinion, is go to the counter, a friend, a relative or an acquaintance who understands or has had experience in the field of finance. Although in this case is sure to be closer view, is no guarantee of competence and professionalism in counseling.

Due to regulatory and technological advances, there is a space which is developing a new model adviser who is growing again. We’re talking about a person you trust as your friend count. The difference is that in turn is a qualified professional in the personal and family finances, personal financial advisor.

The main difference between traditional and personal advisor or independent is that the former focuses on the product and the needs of the supplier, while the second focuses on customer needs regardless of where you get the financial products and services.

What are personal or family finances?

It is important to clarify this point as the independent financial adviser plays a bigger role than people think.

When you hear the phrase personal finances first thing that comes to mind words like “economy”, “Bag”, “Wall Street,” “bonds,” “investments”, “savings”, “safe”, “credits” “debts” or “banks” and other odds and ends. The truth is that personal or family finances are this and more.

The finances of a person or family are a means to an end. People have dreams, goals and ideals that they would like to meet. The first thing that comes up is pay for the education of children. Then comes the time of retirement, retire with a lifestyle defined. Then there are some desired tastes both in activity in retired status: travel, consumption, or live in the neighborhood of pleasure. This ultimately is what is known as a “life plan”, a set of very personal goals and dreams. Read the rest of this entry »

One of the main obstacles faced by entrepreneurs is related to the capital resources needed to start your business. In developing a business plan, must be calculated accurately and rational asset value, the cost of installation and assembly and pre-operating costs, on the basis that money is scarce and must be managed properly.

Given the above assessment, business plan formats, in public information should reflect the total value of investment in the project, as well as input and / or donations are available from entrepreneurial and other artists. This contribution can be cash (capital), and / or contributions in the form, is the machinery, equipment, merchandise, goods etc.

It should be noted that if the contributors (employers-is), do not have a total investment value; ask for assistance to the banks. It is here, in part, many businessmen hampered by darkness and despair that must go to the bank in need of funds.

Please note that other causes may restrict the business plan is the wrong calculation or estimation of the necessary assets, which makes the plan appear unattainable.

Based on my business experience in the financial sector as a manager for several banks, I can conclude that ordinary people, whether they are entrepreneurs, businessmen or entrepreneurs (MSMEs), we are afraid of financing options.

There is a prejudice is supported by statements such as: real possibilities of credit, there is little or none. To reinforce the fear that created the paradigm itself by making the following statements and more.

The business plan of a business plan is the synthesis “technique” of all the information that has been exposed in the descriptive part of the same business plan. It ‘also the hardest part to write, as it is the numerical verification of the consistency of all data that have been exposed.

Investment, financing, income, expenses, income and expenditure and other monetary, must be synthesized within the forecasts, which are the prioiezioni future of the company. The weather usually is done on a time horizon of five years, although it must specify that a horizon so broad loses credibility because of some variables is practically impossible to make exact predictions. For example, a company that produces plastic (petroleum) is essential to assume the fluctuations of oil prices over the next five years. For this reason, more often than the budget estimates are made in three years.

That said, the business plan serves two very important things:

1) verify the economic and financial viability of a business project. Thus, to verify the economic and financial viability of a business, is to study whether the business is profitable or not in the long term (ie over the next three to five years). This is a test performed on the estimates of revenues and costs, as well as the financial structure of the company, and serves to control the mechanism of creation costs following the achievement of revenue, and serves to identify the most appropriate financial resources to achieve the economic objectives that were set. Specifically what does this mean. Read the rest of this entry »