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Basic Money Management Financial Education Even though this topic is not in alphabetical order, we consider Financial Education to be such prime importance that we placed it first on this page.
When seeking investment advice, an often raised question is, "Who should I listen to?" That decision is an integral part of your overall financial plan. Learn about the differences in advice here. Banking Long gone are the days of the bank around the corner whose manager actually knew you and probably your parents and grandparents! Personal banking, so widely touted by mega-banks is no more than a relic of the past. Banking now can often be like visiting a large discount store where you are confronted with today's "blue light special" in the form of "sales" on loans and promotional rates and terms on investments. So what do you do in such a setting? You shop, and you shop carefully. Bank Deals is a blog whose author appears determined to snoop out the best deals offered by banks throughout the country. Bankrate.com is a particularly informative and useful site. Many large banks offer products and services primarily or exclusively on the Internet. Among those offering such "direct" banking opportunities are: AmTrust, Citibank, Emigrant, HSBC, and ING. Credit Counseling and Management The primary business of FCVA is capital management but our name implies to some folks that we are credit counselors. Though we are not in that business, it is an important service and there are reputable purveyors available. However, there are also predatory companies just waiting to take advantage of those least able to recover from scams. Be careful. The National Foundation for Credit Counseling is the national voice for its members, which are nonprofit, mission driven, community-based agencies.
One company with whom we have talked seems to be a reputable company in business
to help their clients. You may inspect the
ClearPoint Credit Counseling Solutions web site here. AnnualCreditReport was created by the three nationwide credit reporting agencies, EquiFax, Experian and Trans Union to secure a free credit report once every 12 months from each agency, as provided for under the Fair and Accurate Credit Transactions Act. Your credit score, often called a FICO score, is a three digit number ranging from a worst of about 300 to no better than 850 that measures the risk borrowers are perceived to pose to creditors. You can learn more about FICO scores at MyFico. One way to contain your credit card usage is simply to not have so many. Go here to Opt Out of being offered so many credit card "deals." Get your name off the target list. In the sad event that you need to declare bankruptcy, will your retirement assets be protected from creditors? How you title them may make a difference. Click here to read a relevant article from our friend Kevin Rack of The Rack Law Firm. Personal Financial Planning
Financial Planning Toolkit: provided free by CCH, Inc. a traditional publisher of business, legal and tax information for accountants, lawyers and other professionals, offers a wealth of information in all areas of personal finance, and you will see it cited often by us. CCH claims the site to be a Personal Financial Advisor, and it comes very close to being just that. Certified Financial Planner™ Board of Standards tools and articles for Financial Planning. Lots of information and tools from the organization that certifies those advisors most qualified to help you. Not only do they insure your bank deposits, the Federal Deposit Insurance Corporation has a site filled with useful information for consumers and investors. Capital Use Planning: A subscription planning and simulation service available to clients of Financial Counselors of Virginia. Call us to help get you started. Saving Money Directory assistance isn't free anymore, and inquiries can add up. Free411 provides free telephone number information. You may have to listen to an ad or two, but it could still be a bargain. The federal government's Energy Information Administration has an informative piece on residential heating oil prices, as well as weekly price updates for heating oil and propane and natural gas. Also, EnergyGuide allows you to measure your home's energy efficiency. Finally, the US Department of Energy's Home Energy Saver site allows you to compare your energy costs to those of both the average house in your area and those of an energy efficient house. To keep up with gas prices, check the AAA's Daily Fuel Gauge Report, and to find the cheapest gas in Hampton Roads, turn to Gas Spotter.
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