Career Changes Into Financial Planning

The financial planning industry is growing strongly and quickly. An initial major driving influence was the mandatory superannuation decision by the government which drove investment savings up incredibly. Financial planners are often sought in gaining advice on how to invest in preparation for retirement given the need for finance is now mainly independent from government contributions. When people do retire they also often need the expertise of financial advisers.

Many individuals who have initially chosen different professions have considered becoming financial planning because of the opptiunities both in finding a job and also the opportunity for a large remuneration once they get a job. PS146 / RG146 training would be necessary for people making a change of careers. These courses would general come in the form of a Diploma of Financial Services (Financial Planning). The main players in this industry are Kaplan, the International Institute of Technology (IIT), Finsea and PS 146.

The skills sets needed to be a financial planner includes an ability to relate to people. People are often making a big descion with their money and they will need to feel that they can trust a financial planner. ASIC compliant courses (PS146/RG14) include skills training and testing for this reason. The finical planners also need to be able to understand financial relationships such as a between technical data and a client’s information. PS146/RG146 requires students to understand technical information such as corporation law requirements and apply them to clients’ circumstances. A financial planner also needs to process current market occurrences so as to relate these back to a client’s information so an appropriate decision can be made about where a client should invest. The financial bail out of the USA’s Wall Street market for instance will have flow on affects for clients which should be considered by financial advisers.

Professions that have an emphasis of technical examination have one of the skill sets required of financial planners. Careers such as engineers, accountants and scientists would find the technical aspects of RG146 /PS146 training very managble. There is a mathematical element in the nationally recognised Diploma of Financial Services (Financial Planning) which typically contains most of the elements of ASIC compliance but definitely the elements of PS146/RG146 needed to become a financial planner without the specialities such as managed investments, securities and insurance broking. The mathematics is not difficult in the course however; it examines such relationships as returns and investments or the amount of tax that may need to be paid. Engineers, many scientists and some academics use what might be describes as difficult mathematics which does not apply to financial planning qualifications.

Professional that have the skill set of dealing with people well also have a great head start into the financial planning industry. Careers such as nurses, teachers, bank tellers and public relations officers would be able to apply their skill sets in a very effective way in the financial services industry. These skills would be helpful in fulfilling the RG146/PS146 courses which require a skill assessment which can take the form of conducting an interview or a role play.

Difference Between Financial Planning and Accounting

Training for financial planners has additional requirements not expected of accountants in the form of ASIC RG146/ PS146 compliance. Both accountants and financial planners are expected by their respective industries, professional bodies and clients to have underlying educational requirements however this is only a legal necessity for financial planners and not accountants in the majority of their work environment. Financial planners are regulated by ASIC in their requirement for them to undertake RG146 or PS146 courses if they want to operate as authorised representatives for licence holders. Accountants excluding auditors and taxation agents are not legally required to be educated as regulation comes through the Corporations law which requires any accountant dealing with companies to use the Australian Accounting Standard Board’s accounting standards which are in fact the international accounting standards.

The difference comes in the way regulation occurs, financial planners’ education is regulated while the compliance requirement of following legally enforced standards is the regulation tool used by ASIC to control accountants. It is legally possible for an accountant to have never undertaken an accounting course and still be in charge of accounting at a large corporation.

A financial adviser alternatively needs to be ASIC compliant and as a minimum must do RG146 / PS146 courses. The majority of providers offer this qualification in the form of the Diploma of Financial Services (Financial Planning) which ordinarily would give full ASIC RG146 / PS146 compliance. Typically the various ASIC compliance requirements are contained in these courses including, securities, managed investments, derivatives, insurance advice and insurance broking. The Advanced Diploma contains a greater focus on taxation, estate planning and financial plan constructions.

Accounting courses are broken into areas such as financial accounting, management accounting, auditing and taxation. Whilst as mentioned an accountant in charge of a large organisation can legally have no accounting training, the industry is mature enough that this would be unlikely to happen. Often professional qualifications are a requirement to gain senior accounting roles.

As the financial planning industry matures it should be expected that the Advance Diploma of Financial Services (Financial Planning) will become the industry requirement for financial planners wishing to progress in their career. Industry providers now have Recognition of Prior Learning options available which reduces the need for traditional study methods. Accountants typically need a degree or even a Masters to be recognised as educational sufficient to apply their craft even though as mentioned this is not actually a legal requirement. There are many educational opportunities for financial planners after they finish their RG146/RG146 complaint courses. They can also focus on specialist areas such as taxation, self managed superannuation funds and foreign exchange.

10 Ways to Save Money on Practically Everything to Make Debt Settlement Easier

If you have more than $10,000 in unsecured debt (credit cards, medical bills, etc.), debt settlement allows you to get out of debt much faster than by making the minimum monthly payments or by using debt consolidation.

In previous articles, we have discussed “10 Factors that You Must Consider When Choosing a Debt Settlement Company” and “How Debt Settlement Saves You More Time and Money than Other Debt Relief Options.” Let’s say that you have sought debt relief and are now in a debt settlement program. Yes, credit card debt can be very expensive and stressful, but getting out of debt doesn’t have to be.

How would you like to save $150 over the next month toward your next debt settlement payment? How about $400 over the next two months, or even a $2,000 over the next six months? This article lists 10 ways to save money on practically everything to make debt settlement easier.

Some experts suggest that you get a second job in order to finance your debt settlement payments. While this might work in certain instances, you must also remember the famous 17th century proverb: “It is as useful to save money that you already have as it is to earn more.”

Not all of the tips in this article apply to everyone. Just find those money-saving ideas that apply to you, and start using them. If you are committed and persistent over the long haul, you will be amazed at how much money you can save.

1. If your bank offers free online bill payment, take advantage of this option. With the price of a first-class postage stamp at 45¢, free online bill payment can save you lots of money over time. For example, if you use online bill payment to pay your gas, electric, water, and cable bills every month, you are saving $1.80 (4 x 45¢) a month in postage. That adds up to $21.60 a year.

2. Instead of an expensive whitening mouthwash, consider using a use a 50/50 mixture of hydrogen peroxide and water. We checked the prices on both. At the drug store, you can pay as much as $6.99 for a 32 oz. bottle of brand-name whitening mouthwash. At Pittsburgh-based Giant Eagle®, you can pay as little as 99¢ for a 16 oz. bottle of generic hydrogen peroxide.

3. Give up smoking. If you live in Illinois, the average cost for a pack of cigarettes is $9.67. If you smoke a pack a day, that’s $3,529.55 a year! So, if you think that you can’t afford a debt settlement payment every month, think again. If you’re paying $300 a month to settle your debts, $3,529.55 is equivalent to almost 12 monthly payments.

4. We suggested this money-saving tip in a previous article, but it is worth repeating again. You can save a lot of money if you stop watching commercials on television. Commercials market to your emotions and not to your practical thinking. Do you really need that miracle eye cream or perfect cupcake maker? Recently, we saw an infomercial that was promoting a 15 oz. bottle of shampoo for $29.95, plus shipping, handling, and applicable sales tax. Remember, expensive does not always mean better.

5. Wash your laundry in cold water. It will save you lots of money over time.

6. If you like berries, buy them on sale during the summer and freeze them for future use. Pittsburgh-based Giant Eagle® frequently advertises berries at “buy one, get one free” during the summer months.

7. Even if your checking account doesn’t require a minimum balance, make sure that your balance is never below $100 just to play it safe. There are two reasons for this. First, if you don’t have overdraft protection, the charge for insufficient funds now averages $35 per transaction. And according to, “Some banks even charge a fee each day an account sits in arrears.”

The second reason is that the CFPB [President Obama’s Consumer Finance Protection Bureau] “has a hunch that banks are manipulating the order of your daily transactions to maximize the chances you’ll be charged an overdraft fee.”

It’s better to have an extra $100 in your checking account that you might never use than to pay a $35 overdraft fee. You can purchase a lot of “buy one, get one free” groceries, household supplies, and personal care items with that $35.

8. Monitor your checking account very carefully. Make it a priority to document every transaction, including any applicable fees. If you see a charge that you do not recognize, notify the bank immediately. We recently found an unauthorized charge of $79.99 on our checking account that did not belong to us.

9. Consider using fat-free plain yogurt instead of sour cream. It is a healthier option, and is cheaper than sour cream when bought in the 32 oz. size.

10. If you receive any extra money as a gift, work-related bonus, etc., put your debt settlement program and peace of mind first. Do not go on a spending spree. Remember how the destructive cycle of debt has been running and ruining your life up until now.

So there you have it, 10 ways to save money on practically everything to make debt settlement easier. While credit card debt can be expensive and stressful, getting out of debt doesn’t have to be. Make saving money a top priority, and focus on making a stress-free debt settlement payment every month.

4321 Personal Financial Plan

In this modern society, everyone bears great pressure and earn money with great efforts. May I know whether you have such experience juts after one week the whole salary of your month has been used up. In the article, I will introduce some method for you to manage your money effectively, if you insist on this, you will become richer and richer.

The method of 4321 Personal Financial Plan:

After you have got the new salary, at first you should use 40% for investment such as stock, foreign exchange, fund etc. You can choose open-end funds at fixed investment. Every month you can pay for the fund through bank or Fund Inc. automatically with easy procedures, conveniently and time-savingly. After you have spent the money, it has been taken out, which will achieve the effect of forced saving. Open-end fund at fixed investment is rather a good investment behavior.
Every month, you should just use 30% of your whole salary for the basic living expenses such as eating, clothes, mobile fee, fitness, beauty saloon etc. Of course there should be gasoline fee if you have cars, premium fee if you have houses, in one word, this should be your necessary fee every month.
What’s more you should leave 20% of your total salary, if some day, you feel happy and want to have a taste of some new food in the world, and then have a SPA, the fund of disbursement will be useful. Then you can have a nice day with your friends.
The last 10% of your salary should be used for insurance, which is a long-time arrangement, and the guarantee for your later life. As an office lady, if you have no plans for insurance, viewing at the point of financial plans, it is unsuitable and dangerous. Usually it is suitable for insurance fee to take up 10% of your whole salary, and insurance company will compensate you at lest 10 times for your payment of insurance.

From the view of financial point, at first you should reserve emergency cash. Usually it is suitable for you to save the living expenses of about 6 months and use your other money for purchasing money market funds, which is usually used for Central Bank bills, short-term bonds and some other kinds of inter-bank bond market, with higher security and higher annual rate than that of demand deposits. When you are in need of money, what you should do is just to sell the money market funds two business days before to ensure its high liquidity.

As for investment, as an office lady, you should broaden the way of investment, setting stable and steady as the basic principle of investment portfolio. When keeping the safety moderately, you should improve service efficiency of capital and profitability of assets.

The above is just some simple suggestion for financial plans. I get the information by chance when search on my laptop( ), in my personal opinion, it is useful and helpful. As a graduate who have just gone in for work for several months, I think it is important for us to develop the idea of financial planning and try to use our money in a reasonable way.

With the intention to help others with the idea, I just wrote the above words as suggestion. If you have any other useful advice, would you please leave a comment and then we can have a further communication about the topic, helping more and more people process. Thanks for your kindness in advance. Looking forward to your comment.

Usda Home Loans – 100% Financing For Rural Areas And Small Communities

Few people are aware that the USDA also provides home loans. Financing is available for eligible applicants who are looking to purchase a home in many small towns and rural areas. Benefits of a USDA Home Loan: • No Down Payment • No PMI (private mortgage insurance) • Low Fixed Rates • Finance your closing costs • No maximum purchase price • Perfect credit not required • Low up front closing costs • In some cases closing costs can be financed • Minor credit problems OK • No maximum loan amounts • Fixed Rates Only is committed to helping more people achieve the American dream of homeownership. A USDA home loan is a government insured loan created to increase the population and strengthen the economy in rural America. A common misconception is that USDA home loans are only for farmers. Almost any area outside a major metropolitan city will qualify. When you inquire with you will be contacted by an experienced rural development loan expert from our network of approved lenders. You will not be contacted by more than one loan consultant and we don’t require your social security number or a credit check to inquire. The loan consultant will determine your eligibility and answer all of your questions about the USDA Home loan process. Don’t let someone you don’t trust handle one of the most important financial transactions in your life. Allow one of our rural development loan experts to analyze your situation and determine if a USDA home loan meets your needs. Visit our website at to learn more about the USDA Home Loan process.

How to reap your Fortunes with small Saving Schemes

Being a spendthrift has its own drawbacks. People who lack saving skills usually find themselves in financial woes more often than not. Whereas, people who have a habit of saving money easily sail through tough financial times.

To increase the habit of saving and to promote money management among its citizens, the Government of India has launched various schemes to benefit investors.

Below is a list of schemes you might find useful.

Kisan Vikas Patra Scheme

This scheme is developed for investors who want to double their money. It has a lock-in period of 100 months (8 years and 4 months), with a clause for premature withdrawal of two and a half years. This scheme is especially beneficial for people who fall in a lower income group, and it offers an attractive interest rate of 8.7%.

Senior Citizens Savings Scheme

This scheme pledges high returns to its investors. It comes with a lock-in period of 5 years, and an interest rate of 9.3%. What makes this scheme different from the rest is the fact that its interest is paid on a quarterly basis, during the entire tenure. Its also offers deductions under Section 80C for up to Rs.1.5 lakh investments. The investment limit here ranges between Rs.1,000 to Rs.1.5 lakh.

Post Office Monthly Income Scheme

POMIS is offered by the Indian Post Service. It has been a favourite among the country’s masses for decades, mainly because it assures a guaranteed return on investments. It has a lock-in period of 5 years, with an interest rate of 8.4%. The minimum amount required to open an account here is Rs.1,500 which can go up to Rs.4.5 lakh (Rs.9 lakh in the case of a joint account).

Public Provident Fund

PPF is a long-term scheme launched by the government that promises tax benefits to investors, which come in handy at the end of the financial year. It has a lock-in period of 15 years (partial withdrawals allowed after 7th year), with an interest rate of 8.7%. The minimum amount to open an account here is Rs.500, which can go upto Rs.1.5 lakh.

Put your savings in property

Investing your money in places that can reap profits is of paramount importance when it comes to savings. The real estate market is flourishing right now, which is why investing in it can prove to be lucrative for you. But, since the prices in this sector are skyrocketing, not everyone can afford buying a house. To help you in this situation, banks and NBFCs allow you to approach them to meet your Home Loan requirements. A much easier way to go for it would be to apply for an online Home Loan. Before you zero-in on a property, make sure it has a good resale value as well. This will help you later on if you decide to sell.

These schemes are exclusively people-centric, and are bound to reap monetary benefits in future.

The Truth About Money – 3 Key Facts You May Not Know

The U.S. dollar has been the world’s predominant reserve currency since 1944 by way of the Bretton Woods Agreement.[i] If you wish to send currency from your country to a friend or family member in another country, you will have to send it based on the exchange rate with the U.S. dollar. Those dollars are then sent and converted to that nation’s national currency. Meanwhile, in every transaction, the “middleman” (the U.S. Federal Reserve) gets paid.

Key Fact #1 – The U.S. Dollar Was Once Backed By Gold

The U.S. dollar was once backed by gold which meant any foreign currency that was pegged to the U.S. dollar was also backed by gold via the Gold Standard. A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. Most nations abandoned the gold standard as the basis of their monetary systems at some point in the 20th century, although many [still] hold substantial gold reserves [today].[ii]

There have been countless currencies documented throughout history that have failed. Through deficit spending and excessive currency printing it is only a matter of time before a currency implodes and returns to its original value…zero.

Many economists today believe that the greenback will soon join this long list of failed currencies.

Key Fact #2 – What You Call “Money” is Really Fiat Currency

Fiat currency in simplistic terms means money (currency) created out of thin air and backed by absolutely nothing.

Investopedia defines it as,

Fiat money is currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith. Fiat is the Latin word for “it shall be”.[iii]

What this means for you and I is this; our central bank can print an unlimited supply of fiat currency and as a result prices on our everyday goods and services will rise thus causing inflation. The prices of our goods and services have drastically risen over the decades however, the purchasing power of our currency has not increased at all.

Key Fact #3 – Fractional Reserve Banking

Fractional reserve banking allows the bank to, within legal limits, reserve only a fraction of your deposit and loan out the rest. You’re essentially loaning the bank your money.This practice increases the money supply, increases risk, and causes inflation.

Let’s check in again with Investopedia to see what they say,

Fractional reserve banking is a banking system in which only a fraction of bank deposits are backed by actual cash-on-hand and are available for withdrawal. This is done to expand the economy by freeing up capital that can be loaned out to other parties. Most countries operate under this type of system. Also known as “fractional deposit lending”.[iv]

As an example using a 10% reserve ratio, when you deposit $1,000 into your bank account the bank will loan $900 to someone else. Only a fraction of your deposit is actually kept there while the rest is in someone else’s account in the form of a loan baring interest for the bank!

Here’s the reality: if everyone were to make a “run on the banks” meaning we each went to the bank to withdrawal all of our money at once, the banks wouldn’t have enough to cover all of the obligations. That’s a fact!

There is so much that has been kept from us and has led us away from the truth. For that reason I have written a detailed in-depth report called, “The Banks Are Scamming You! – 7 Reasons Why Rock Beats Paper And Why You Should Have It” and I emphatically urge you to get your hands on it today!

I am giving it away as a FREE gift because I am committed to continuing to educate others on the potential risks inherent in today’s banking and monetary system. In essence, I want to help you preserve your wealth and future buying power.

All About Managing Personal Finances For Success

Operating your money and personal finances is not difficult with just a basic understanding of the world of finance. Overcoming emotional stress in stressful occasions with this guide to personal finances, budgeting money, managing personal finances, using personal budget software or seeking finance help online is a critical action. Our financial guide offers great value in enabling you in all areas of money.

Most people don’t think of themselves or their lives as a business. But from birth to passing, you are in business for yourself, the business of you. How you choose to run your business is up to you. The same guidelines that apply to running a successful business also apply to leading a victorious life, both financially with your money and emotionally. Stress about money can affect your emotions negatively as well as your health.

Let me give you four important points of our guide from Personal Finances Online, to managing personal finances successfully.

• Take extra effort in removing any emotion like dept anxiety or overwhelm from financial obligations worry over mounting bills and income. Removing emotional responses from your personal finance budgeting will be a work in progress, and you should always remain on guard for over active emotions. Taking emotion out of dealing with your finances will help you come up with positive solutions and solve problems more effectively.

• Managing your personal finances on a regular basis rather than letting the admin tasks mount up is critical. That way you stay on top of where you are at, can change things, and make better decisions ahead of time rather than always being in reaction mode or putting out fires. Avoid decisions that would lead to bankruptcy like over leveraging your loans or taking on financial commitments you don’t know how you can pay back.

• Devote yourself to developing greater skill sets like budgeting, planning and even using budgeting software. Managing personal finances like a business is about seizing control of your destiny, both with your finances and your life. Try to be like the great business leaders and attack your future with vigor and enthusiasm. Supervising your finances in this way, with boldness and a belief in their importance can have amazing results.

• Don’t be withdrawn to use software to support you with your personal budgeting is a good idea because it contains spreadsheets that have everything in one place. You can see very quickly where your current state it, budget better, plan better, not to mention the time it will save you putting your own spreadsheet together.

The most effective personal finance software provides sufficient user-friendly features, allowing users to manage every aspect of their finances, including accounts, investments, future plans and taxes. Software will provide up to date information on tax laws and stock reviews to help you make knowledgeable decisions.

Bare in mind that proper budgeting of your personal finances is the beginning of good and sound financial management. There are lots of sites online and budgeting software can help you. Of course, this will not be possible without first your determination to manage your financial obligations without getting stressed about it.

Find our Complete Guide to managing your money and the business of you at Personal Finances Online Help .

5 Benefits of personal financial planning

Personal financial planning involves aspects such as budgeting, planning your savings, investing, getting insured and looking after the smooth functioning of your overall financial health. It is very important for you to know how to effectively handle your finances as the benefits of personal finance planning are many.

Some of the benefits of personal finance planning are as follows.

1. Profit from investment plans : With the right financial planning you can identify those investment plans that will prove profitable for you. You will be able to prioritize, where and when you should invest first.

2. Evaluation of your financial condition : Budgeting is a very important aspect of personal financial planning. You may not like the idea of a budget but it helps you manage your finance. With a proper budget, you can evaluate your financial situation. This helps you assess how much you are spending currently and whether or not you can afford it.

3. Reduces marital stress : Money problems could lead to divorce. This is because when you are in debt you tend to be much stressed and any minor problem can become very severe. Thus, handling your finances responsibly can not only help save money but also your relationship with your spouse. Debt may also affect your relationship with others, so plan your finances well.

4. Helps you build a better future : A well planned financial life helps build a better future. Financial planning involves saving for the future. If you plan well, then you will save a part of your income every month, for future use. Also your financial planning should give some importance to your retirement plan. By taking up a retirement plan you insure that in future when you no longer have an income, you will be financially secured.

5. Reducing impact of financial crisis : In case an emergency arises in your family, you can take care of it without waiting for someone else to help you out. If you have to borrow every time there is a financial need, then you may find yourself suffering from financial crisis in times of family emergencies. A family emergency could be anything from a family member falling ill or unexpected medical bills. However, good financial planning helps you come out of these situations with ease, as you will have savings to help you in your crisis periods.

Personal Financial and Life Planning in Alberta with Experts

There are numerous business entrepreneurs, who have admitted that managing a well-balanced financial status isn’t the easy thing to do. If you are one among these entrepreneurs, then it is essential for you to know that achieving and maintaining a well-balanced financial status is not an impossible task either. It only requires your time, patience, practice, experience and mind set. However, if you are involved in such (small or large scale) business, which do not allow you to spare time on managing all your financial aspects, then you will be happy to know that these days; few experienced professionals available at numerous reputed and top accounting firms in Stony Plain, Alberta can help you in this venture.

No matter whether need financial planning assistance for managing your personal financial and life planning in Alberta or for your business needs, you will be happy to know that such experienced and expert professionals at few reputed firms for Accounting and Small Business Consulting in Alberta can give you – the necessary edge in today’s constantly changing business environment. These professionals will help you in making and implementing necessary plans, which can help you in achieving the monetary goals. However, it is crucial to mention here that before providing you an efficient strategy, these professionals will first take into consideration your objectives, assesses all resources and assets, estimates almost every future financial need, and then plan right financial strategies for you.

Now, if you are planning to hire the expert small business financial planning or Small Business Tax Services in Alberta, from any such professionals, then you will be happy to know that internet gives you convenience of finding any exceptionally experienced team of professionals, who are expert in Small Business Financial Planning in Alberta. One such experienced team of proficient professionals, who are expert in Records Management for Small Business in Alberta, is available online on the internet at

These professionals can help you in advising you in taking crucial financial decisions. In addition to this, they will also offer you numerous accounting solutions, like tax returns, business planning needs, financial reporting and Small Business Record Keeping in Alberta. The reason for this is that the team of professionals available at this consulting firm comprise of expert accountant, taxation consultants and financial specialists. Thus, seeking their assistance and expertise, by shelling out feasible price, can bring significant benefits to your business, no matter, how small, medium or large it is.