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3 Worthwhile Safeguards to Include in Your College Savings Plan

Posted on Sep 30, 2018 with No comments

Sep 30, 2018

As your child prepares to enter college or even after your child has already started classes, you understandably may be focused on maximizing the benefits of a college savings plan. Many college savings plans are heavily invested in stocks.

While the stock market historically has trended upward, there is no guarantee that the stocks that you have selected will gain at all. More than that, the market could experience a major correction at an inopportune time, and this could have a detrimental effect on your college savings account balance. There are a few important steps that you can take to safeguard your child’s education nest egg.

Use a State’s College Savings Plan


Many states now offer college savings plans, and these may provide you with reliable growth at a relatively low rate. You may even be able to enroll in another state’s college savings plan.



While the growth rate is lower than the average return on the stock market, the risk is substantially lower in most cases. If your child’s college savings is not currently in one of these plans, it makes sense to take a closer look at what they offer.

Diversify into CDs and Bonds


If you prefer to keep at least some of the child’s education savings funds out of a state’s college plan, consider investing the money in safe investment vehicles. For example, CDs and bonds generally have low rates of return compared to other investment options available.

However, these are safe investments. As you get closer to your child’s entrance into college, it makes sense to increasingly transfer funds into safer investments.

Lock in a Tuition Rate


Another excellent idea is to take advantage of tuition rate guarantees. College tuition rates and fees can increase dramatically over the years. You understandably may want the fund that you have established to pay for private MCAT tutoring, law school tuition or other post-graduate educational expenses.

By locking in a tuition rate as soon as possible, you can help to maximize the use of the funds that you have available. Paying for a child’s college education can be a stressful, challenging experience.

Regardless of the amount of funds that you have available right now, you understandably want to preserve or safely grow those funds. You also want to ensure that they are used in the most efficient manner possible. Each of these tips plays an important role in helping you to reach your goals. Consider analyzing your current diversification efforts as a starting point today.


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Investment Tips for Beginners Who Just Graduated College

Posted on Sep 28, 2018 with No comments

Sep 28, 2018

Developing the habit of saving money from the initial years can prove to be a great decision in the long run. Students who have just graduated, look for sources of earning. Some take an internship to gain experience in their subject, while some start part-time jobs to earn extra money.

Converting these earnings into investments requires you to consider some essential pre-requisites. First among those is, concentrating on accumulating enough liquid cash to be able to carry out daily expenses smoothly.

One of the first things you would need to do to organize your finances, would be separating money into savings and daily budget. Newly graduated students have the option of saving for long-term goals such as traveling, and purchasing gadgets. 

Since they are more equipped to take risks, investing dummy money in virtual accounts could be a good start. Such accounts are provided by brokers which students can use to invest in real stocks.

How to Begin Investment?


Start with Exchange Traded Funds (ETFs)

Due to the myriad investment options available to graduates, it is easy for them to get carried away. ETFs are for trading various investing instruments across different companies and have equal amount of risks and gains. Since the minimum amount required to invest in ETFs is Rs. 2000, it is one of the easiest options for graduates who want to start investing.

Moving on to Fixed Deposits (FDs)

Once they have enough experience with investing in ETFs, they can start investing in Term Deposits (Fixed Deposits). FDs provided by NBFCs offer higher returns than the ones provided by banks. This is one of the safest options with almost no risks involved. 

It isn’t affected by market fluctuations and can work as an emergency fund. Moreover, you can choose the frequency of their interest payouts to keep the incoming flow of liquid cash. NBFCs like Bajaj Finance offer interest rate of 8.40% on Cumulative FDs and 7.88% on Non-Cumulative FDs, which can good way to generate effective returns. 



FDs can help you create a corpus over time, that can be used to fund your travel plans or even a professional course that you might want to pursue.

Additionally, you can also diversify your money by investing small amounts in different FDs. As a graduate, you might have financial goals that are short-term as well as long-term. Laddering your FDs can help you fulfill your long-term goals without compromising on the short-term ones.

Investing in Systematic Investment Plans (SIPs)

Another option that you can go for, is investing in SIPs. SIPs can earn you long-term benefits by investing as little as Rs. 5000. If you invest this amount for the next 25 years, you can easily collect around 50 Lakhs as returns. 

SIPs relieve students from the hassle of manually transferring funds, as the money directly gets transferred from their bank accounts. You can even plan and invest according to the period and your risk tolerance for 2-3 different priorities at different intervals.

Mutual Funds

Whether students are receiving stipends from parents or an internship – they can start micro-investing in mutual funds. Even if they earn very less, they can start investing in MFs with as little as Rs. 100. They offer high returns in the long-term. Investing for 15 years in MFs can fetch you a CAGR of 15%, and almost 18%, if you invest for 20 years.


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How To Handle Your Money During Grad School

Posted on Sep 27, 2018 with No comments

Sep 27, 2018

If you are planning on going to grad school, then you are going to need to think about your finances carefully. Depending on your current financial situation, you might need to get a part-time job alongside your studies or look for financial aid.

In this article, we are going to give you some tips on how you can save money for grad school. Make sure to keep reading if you want to find out more.

Consider Your Costs


The first way to save money for grad school is to map out exactly the costs that you are going to have. Think about the fees, the money that it will cost you to live on campus or off-campus and the cost of books.




You also might have some unexpected costs when it comes to the applications, you’ll need to spend money taking the GRE and buying study guides for it. Plan for all of the costs and you’ll be able to know where you stand.

Look For Financial Aid


Not everyone can afford college or grad school and so there are plenty of financial aid options available to those students who need it.

You’ll find plenty of information about financial aid online and if you already got some for your undergraduate degree then you might already have something in place for your grad school.


Get A Part-Time Job


Grad school is expensive and for some people, the only realistic option is to get a part-time job. Obviously, this is not ideal as you will want to be able to spend most of your time working on your studies but unfortunately, it is often the only option.

Consider looking for a part-time job that will contribute to your studies in some way. You might be able to get a paid internship that will fund you and give you experience at the same time.

Live At Home


Have you ever considered living at home during grad school? This might be a great way of ensuring that you are not overspending and giving yourself less to worry about when you are at grad school.

If your parents live close enough to your grad school and they don’t mind having you around the house, you could live there for a fraction of the price. Consider living at home if you want to be able to handle your finances a lot better during grad school.

Limit Your Social Life


Although a big part of college is making friends, you might find that you have already had your time to do this the first time around. By the time that you have got to grad school, you will already have friends and you might not need to accept every single invitation while you are there.

If you are willing to limit the amount that you spend on your social life, you’ll find that you have more money to live on and that you will have more time to focus on your studies!





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4 Ways to Lower the Cost of Your Home Renovation in College

Posted on Sep 6, 2018 with No comments

Sep 6, 2018

Completing a major home renovation project doesn’t have to cost you an arm and a leg. There are ways that you can work to get your total costs down without having to spend your life doing it. Here are some tips that you can use to lower the costs of your home renovation.

Shop Smarter


There are lots of finishes that look very similar to those more expensive ones. You may be able to find something that looks exactly the same, but costs a significant amount less. Another thing to consider is the time of year that you’re shopping.




Look for additional discounts and savings on the items that you want to purchase. Closeout shops and second hand construction supply stores may also work to your benefit.


Tackle It Yourself



While there are some projects that you might want to leave to the professionals, you may be able to take on some of the tasks to lower the costs. Painting is one of the projects that you may be able to complete on your own. 

The amount of other projects that you decide to tackle will depend on your skill and comfort level. Make sure to do your research first so that you can get the quality of finish that you want and expect out of the job.

Assist with Demolition


It doesn’t take much skill to demolish things. This could be one area that you can work on in order to lower your costs. You might want to think about dumpster rental so that you have some place to put all of the items that will be discarded. 

Cleanup costs can be another big hit when it comes to the overall costs of your renovation project. By agreeing to tackle this portion of it, you may be able to save several hundred, to several thousand dollars.


Schedule during the off-Season


Certain times of the year are slower when it comes to construction. You may be able to get a discounted rate if you’re willing to wait on your renovation project during this timeframe. Another thing to consider is finding a contractor or construction business that’s just starting out. 

They may be willing to offer you incentive to do a little bit of marketing for them. Having satisfied customers is in their best interests as well as your own.

There are tons of other ways that you can lower your renovation costs. Consider what’s important to you in the job, and work backwards from that point.


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