Dollars & Pennies

The generation born between the early 1980s and late 1990s is termed as millennials. As they are born at the age of the Great Recession all around the world when things went upside down, they are the unlucky ones to deal with the various problems related to finance for millennials. This generation, apart from shouldering a lot of financial burdens, is known for being the most tech-savvy generation that loves to pursue their passions and can go to any extent to fulfill their dreams. This article discusses some of the finance-related issues faced by the millennials: High debts for students' loan This is one of the notorious and costly expenses related to finance for millennials. Post-recession, college fees have increased exponentially and become out-of-reach for many, compelling the millenn...

Financial advisors help their clients to invest, save, and grow their finances in the best possible way so as to reap benefits from them. However, when and how to choose a financial planner is something that concerns many investors. This article discusses some of the important factors that are crucial while hiring a financial advisor. Look for fiduciary planners A fiduciary financial advisor is one who has the legal obligation to give priority to the clients’ interest more than its own. They pledge to act in the best interests of the clients. Therefore, they are considered to be more ethical than professionals who are not fiduciaries. This is a very crucial distinction and one should get it in writing from the firm from which the services are being used. Check the planner’s backgro...

Almost everyone of us wishes to have a secure financial future. Dealing with everyday financial issues like paying bills, mortgages, kid’s educational expenses, house loan etc. and then looking to make savings can lead to a lot of stress. Hiring a financial advisor to look after these affairs on your behalf will surely help in reducing those stress levels. Here are some of the benefits of hiring an efficient financial planner. They bring in proactive ideas and strategies Financial advisors have more knowledge and experience regarding matters of investment. Thus, they can bring in more proactive ideas, strategies, and developments. This is the reason why financial planners charge you a good amount of money for working. Investing for a good planner might be a time-consuming task, and one mig...

Buying a house that feels like home is something that everyone dreams of at some point in their lives. Your own house signifies that you have accomplished a certain level of stability in life; you have full control of what goes inside and around your house. In a rented facility, for instance, you hardly have any control over several factors – you probably would not be able to make wishful alterations to the interiors without the prior approval of the owner. Also, when you own a house, there will not be a dangling burden of rent over your head every month. However difficult the process might be, possessing financial skills for home buying smoothen the process of buying a house. Before you delve into the technicalities of finances required for buying a home, here are some basics financial sk...

Irrespective of whether you are a homemaker, a college graduate, or a working professional, it is important that you learn certain basic financial skills. Managing your finances is not difficult, but if not dealt with a certain level of expertise and knowledge, you would experience a shortage of cash flow, causing a dip in your savings. Additionally, developing certain skills will help you in the future.  Differentiate between your wants and your needs Prioritizing wants and needs is one of the most important financial skills. You only need an item, if it is essential for your daily operations. Therefore, you probably do not have a choice but to purchase it. On the other hand, your want arises out of the need for adulation. It is not to say that you should not cater to your desires or...