Helping Your College Student With His Or Her Visa Card By Robert Michael

Teens and those in their early twenties are very savvy these days, but not necessarily about money. So when Visa comes calling, they snatch up credit card deals (often aimed at the university market) and start piling on the “deals”, only to find themselves in debt later.

You can help your child by giving him or her some helpful tips on using a Visa card for good, not evil.

Visa card tip #1: Only use in emergency situations

For many students, an “emergency” equals the need for a new pair of shoes. Of course, this not an emergency at all, and a Visa that’s already maxed out should never be used for a luxury item. Instead, tell your teen that if the answer to the question, “Can I live without this?” is “yes”, the Visa card shouldn’t be used. On the other hand, if the teen finds him- or herself in a bind (such as on a date with a loser or someone violent and thus needing a quick ride back to the dorm), the Visa can be used without question.

Visa card tip #2: Pay off all the balances

Many young Visa users think that they can just pay the minimum amount due and never worry about paying the piper later. Consequently, they get into all kinds of debt later. Make sure your child understands that the best thing he or she can do is to pay the entire Visa bill every month. And if he or she makes a purchases that cannot be paid off within two or three months, it probably isn’t necessary.

Visa card tip #3: Check your bill

Even big companies like Visa make errors at times, so it’s imperative that cardholders check their statements every month. Thus, they won’t wind up paying for a charge that shouldn’t have been attributed to their accounts. Younger Visa holders (and even some seasoned ones) are known for ignoring this rule, and it’ll only cost them time and money later when (and if) they figure out they were charged in error.

Visa card tip #4: Report stolen cards immediately

If your student has a Visa card, make sure he or she understands that, should it become lost or stolen, it must be reported ASAP. Otherwise, someone could use it to steal his or her identity, which happens far too frequently in today’s economy. If he or she is fearful that mom or dad will get angry, assure him or her that although you might not be overly pleased, you’d rather find out from him or her that the Visa card was stolen.

Visa card tip #5: Don’t be afraid of a credit card

Finally, make sure that your kids understand that credit cards are not some terrible form of monetary exchange. Actually, they can be quite useful, especially for building a credit history. Again, it’s all in the way your Visa is used; if you are savvy, you can start on the way to a very high credit score, which will be helpful later.

With your help, your child will become knowledgeable about how to use his or her Visa appropriately.

Resource: http://www.isnare.com/?aid=93012&ca=Finances

Finding The Right Brokerage Firm For You By Robert Michael

Are you looking for a brokerage that fits your style? Have you hesitated because you’re not sure how to begin? Check out this guide for some hints to uncovering the right brokerage firm for you.

Brokerage Firm Hint #1: Decide what you want/need before shopping around.

Before you ever begin looking for a brokerage firm, make sure you understand your own personality when it comes to finances. For example, how risk averse are you? Do you throw money at potential investments with gusto, or are you hesitant to even play a $1 slot machine, thinking that your buck could buy a candy bar? You must know who YOU are before you can ever schedule an appointment with a broker; otherwise, you’ll never be satisfied and it will actually be more difficult for him or her.

Brokerage Firm Hint #2: Shop around.

Even if you fall in love with the first brokerage you visit, you really need to evaluate at least one or two more brokerage firms before deciding with whom to work. This is for your own benefit as well as the benefit of the brokerage firm. After all, if you start working with one brokerage firm and suddenly come to the conclusion that it doesn’t reflect who you are as an investor, it’ll be difficult and even costly to remove yourself. It’s better to investigate many brokerage firms when you’re just starting out; then, you can make an informed choice.

Brokerage Firm Hint #3: Ask for references.

When you decide on the brokerage firm with whom you’d like to work, ask for references before giving them any money. Then, follow up on whatever lists or names they give you. Ask their clientele how satisfied they have been and whether they would choose that brokerage firm if they could do it again. Listen for hesitation or any phrases that appear to be “canned” or even outright lies. And if your gut tells you something is wrong, it probably is.

Brokerage Firm Hint #4: Ask questions and be honest.

Once you’ve chosen a brokerage firm, you need to make sure that all your meetings with your broker (or brokers) are efficient. Be open and honest and ask plenty of questions right off the bat. Any broker worth his or her salt will be happy to answer any inquiries and will follow-up over the phone and via email. Remember that if you’re not forthright, it’ll be tough for your broker to make the best suggestions to you. Instead, be upfront from the “get go” and you’ll reap the benefits.

Brokerage Firm Hint #5: When you find one that works for you, refer your friends.

If you find a brokerage firm that absolutely knocks your socks off, you’ll want to share your find with others. Make sure you do so frequently; not only will that be good for the brokerage firm, but they might give you a discount on some future service if you bring a lot of business through their doors.

Resource: http://www.isnare.com/?aid=93003&ca=Finances