Starting a Career in the Finance Industry

banking-finance-industryFinance is a difficult industry to enter. Many students apply to the available positions dreaming of a fast track to big money and the good life. With all the competition, it can be difficult to get your foot in the door. There are a few things you can do to improve your odds, however.

An appropriate major is an obvious place to start. Business, economics, finance and accounting are all good choices for those who wish to work in the financial sector. The coursework covered in these degrees will provide the student with the basic knowledge required for an entry-level position in the finance industry.

While in college, it is important to obtain an internship. Interviewers do not expect candidates to know much and are primarily looking at personality traits, work ethic and motivation. Companies will have orientations and training programs to teach new recruits the job specific knowledge required to perform their duties.

Internships are an excellent way to obtain work experience and references. Even if the internship doesn’t lead to a full-time position with the company it will provide experience that can be used as a talking point in future interviews.

images (15)It’s best to start internships as early as possible in your college career. This will provide the maximum experience possible. If you are able to obtain three summer internships in different fields, it will give you an idea of what is involved in the different financial sectors. The experience will give you an idea of which sector you prefer and will allow you to articulate the reason for that preference in job interviews.

Students who are not majoring in business, finance or a related field are not completely out of luck. While at a disadvantage compared to students with more relevant degrees, a liberal arts major can still break into the financial field. It is important that they learn the financial lingo, however. A good way to do this is to subscribe to The Wall Street Journal, and read it every day. When coming across a word or phrase that is unfamiliar, it is important to look up the word instead of passing over it. In short, it is important to study the articles and understand them. Skimming the articles will not suffice.

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Taking the Chartered Financial Analyst Level 1 exam is a final consideration. Financial professionals will respect the time and energy it took to pass the test and know that you are a motivated person who’s dedicated to finance.

Getting Loans Online

3-1If you are looking at obtaining a loan over the Internet, it is necessary to know where to look and what to look for. There are all sorts of different services that are going to off you financial services, but not all of these lenders are going to be companies and individuals that you want to deal with. Due to this, it is necessary for you to follow a few specific steps in order to locate this perfect kind of lender for your money needs.

FDIC Insured
fdic_splashThere are different loan amounts that are going to be offered to you when it comes to locating a lender. While these different loan amounts might come off as desirable, if it is not FDIC insured you might want to avoid it. This means the federal government insures the money transfer and is good to go in case something happens to the company or another business. The last thing you want is for the lender to start to struggle and then instantly require you to pay the money back. Depending on the fine print of your paperwork, the lending company might be able to change the lending arrangements and agreements rather quickly, without running into any sort of problem doing so.

Fine Print
Speaking of fine print, you need to know what might happen to you with the loan. While you are generally going to be locked into a specific loan for a set period of time, some lenders are going to be able to change the interest rate or even fine you for trying to pay off the loan early. You don’t want to pay more money simply for paying off the loan completely, which is why you need to be open to this and read all of the fine print.

Interest Rate
OnlineLoansYou are going to receive a general interest rate quote for the loan, but the big thing to remember is if it is a fixed rate or a variable rate. A fixed rate stays right where it is for the length of your loan, so no matter how old you are or how much money you owe, the interest rate is never going to change. However, the variable interest rate can change at any moment, so you might end up paying far more in interest that what you were at the beginning of the lending process. Knowing this is very important.

How to start investing in the health care industry

healthcareinvestThe health care industry has many different opportunities available to invest in it. There are a wide number of different types of health care companies with a variety of different investment options associated with them all of varying risk levels. To start with, you should begin by determining the type of risk that you are looking to take on and your thoughts about the future for these companies. Understand the types of investing in health care that you considering. If you are looking for an equity investment then you can begin by setting up an online brokerage account to gain access to equity markets.

Once you have an online brokerage account you will have to choose health care investments to make. There are some common factors that people use to choose health care investments such as p/e ratios and debt to equity ratios. Start by educating yourself on these different terms and understanding the ratios that are frequent in the health care industry that you are looking to invest in.

images (14)Study the different industries in health care. For example, major pharmaceutical companies own patents on drugs that often provide a reliable regular source of income for investors. However, once a drug goes off of patent a major pharmaceutical company may realize a sharp decrease in their revenue and profit as a result. As a risky alternative, you can also try to invest in a biotech start up. These companies also are developing drugs that they are trying to patent but may not have any drugs that are on market and may not be earning any money.

Another stable option may be a health care REIT. A health care reit will be a real estate investment that rents space out to medical companies that are looking to use this space for their doctor offices or nursing home space. These health care REITs provide regular and predictable income streams that can be useful when investing. They are considered stable investment options.

Medical device makers are also considered to be stable investment options for traders. These medical devices makers sell parts to hospitals and doctor offices and are protected by patents and processes that provide them with advantages over their competition.

Whatever health care investment you choose you should be sure to perform some research to make sure that the investment suits your investment horizon. Research the market leaders and track prices to find a good entry price.

Managing your restaurant’s finances

managing your businessAny business owner or manager who wants to operate successfully must implement steps to grow and expand the business. Financial management is not just concerned with the present situation. It is also concerned with what is going to happen in the future. To run a business successfully, you must make a good effort to keep up with the trends, improve the facility and menu as needed and use effective advertising strategies to generate new customers. Increasing the revenue is a great way to cover the inevitable increases in operating costs that restaurant owners and managers constantly encounter.

As a business owner, you know that the ultimate goal of every entrepreneur is make profit, and restaurants are no different. So it is essential to track your sales and operating costs. In fact, when it comes to the restaurant industry, every single ingredient or drink must be tracked to prevent theft, waste or personal error.

Tying up your business’ cash flow in huge stocks of inventory is a poor financial decision. Savvy restaurant financial managers set up a system of inventory for the restaurant and twice weekly delivery of ordered food products. Ordering foodstuffs twice a week will give you enough of a cushion to handle unexpected business, but won’t tie up a large amount of cash in inventory.

Advertising is a necessary aspect of running a business. There are both expensive and inexpensive ways to advertise and promote your restaurant. You don’t need to spend a lot of money in order to get good results from your advertising. You can use several cost-efficient methods to get the word out about your restaurant business. It is essential that you set up a website for your restaurant, including your restaurant name, contact information, and the type of food items served. Fliers are very effective in promoting a restaurant locally. You can also consider taking out ads in your local newspapers, magazines and phone book.

budgets-201315It is important that you know how much you are making each week or month. You need to have a detailed bookkeeping system that you can follow. You should have systems of checks and balances with credit card slips, cashiers and cash drawers, cash deposits and daily records. You should ensure that every part of the system is followed every day in order to keep track of your expenses and revenue. A sound financial management is essential, and keeping good records help to ensure successful operation is a must.

Find the cheapest gifts online

best cheap online gifts shoppingWith holidays fast approaching and busy times during crunch times at work, it can be a nerve wracking situation knowing that there is plenty of shopping to do for the closest of family and friends with such little time to spare.

With online businesses booming along with the newest marketing strategies and the drastic uprising in advertisements, shopping online is becoming the most convenient and easiest way of taking care of errands and buying just about any and every necessary items.

online giftsThere are many websites online which are strictly business orientated, of which some are operated and maintained by large and well known companies, and there are some websites that are family operated, also known as “mom and pop shops”. The ability of businesses to conduct their operations online enables them to reach a greater range of consumers as well as broadening their business marketing capabilities. Many of the online businesses will not only stop at good deals on their products, but will also offer other types of specials. Some specials offered may be along the lines of, “purchase $50 off merchandise and receive your items with free shipping” or “buy two items get one free”. These offers can to the customer’s advantage in certain scenarios, such as needing to buy a number of items due to a holiday such as Christmas. If the store has many items for sale, and the budget is will over $50 dollars, then shopping at that site to receive their free shipping offer may be worth it. Many times, shipping and handling may be quite expensive due to the weight and size of the items. When an offer is available for free shipping, the website should definitely be browsed.

AA025042Another way to find some of the cheapest gifts online are through auction websites. Oftentimes, sellers on auction websites will be willing to let their items go for cheap because they may be useless for them. Perhaps they have outgrown their clothes or bought new ones, or upgraded their electronic devices. In those instances, the less upgraded items will be almost obsolete to the seller, but may be a great deal for a buy to the buyer. Buying used items online at discount prices is almost like a local thrift shop, except having the ability to search for specific items rather than having luck in window shopping. Auctions are a great way to find great deals, but it is imperatively important to remain alert on the items that are bid on because there will most likely be other bidders wanting the same item.

The Importance Of Paying Your Taxes On Time

stock-footage-individual-tax-retund-concept-with-x-form-and-paper-moneyIf there is one civic duty everybody agrees is the pits, it’s paying your taxes. But, taxes are important. Taxes pay for our roads, our schools, parks and recreation and other township necessities. Those of us who are in the unfortunate circumstance of owing on their taxes should understand that when taxes go unpaid, these programs lose that funding and cannot survive.

Delinquent tax payments typically delay road projects, cancel school field trips, and limits sport league activities as well as other township activities like day camps and classes. Also, programs that assist the less fortunate end up under-funded. Many people depend on programs like Medicaid, food stamps and financial assistance to survive. When taxes go unpaid, these programs suffer as well.

request-federal-tax-extension-download-form-4868-and-file-by-april-15_mediumAside from our civic duties to pay our taxes, there are financial reasons personally for one to pay their taxes. There are penalties for paying your taxes late, and they can be stiff! Not to mention, if you’re going to owe money to any entity, the Internal Revenue Service is not one that you want to owe money to. The IRS has special privileges when it comes to debt collection.

The IRS has the ability to bypass typical debt collection efforts such as phone calls and mailed bills and go straight to garnishment of wages. Therefore, if you should owe taxes, it is in your best interest to pay the taxes, or make arrangements at the very least to pay the taxes. It’s always best to pay your debts on your own terms. Wage garnishment can be a very stressful situation.

There are good reasons to make sure that you pay your taxes on time. To avoid further financial hardship, or to fulfill your civic duty to ensure that local services are completed, your tax dollar goes a long way!

What Is A Tax Extension And How Do I Qualify?

tax extensionIf you, for any reason, require additional time to file your tax return, this can be easily arranged. There are no penalties incurred for doing so. The IRS understands that there are many reasons why you may need extra time to file. They have therefore made the process of filing for a six month extension a relatively quick and painless one.

It is extremely easy to qualify for a six month tax extension. All you need to do is make a proper estimation of your current tax liability for the year, using all of the requisite information that is available at your disposal. You then simply enter the total amount of your tax liability on to line 4 of Form 4868. Finally, you file Form 4868 by the regular due date of your tax return. It really is as simple as that.

The best news of all is that you need not provide a reason as to why you require to obtain an extension on your taxes. The IRS will simply process your form 4868 as received. In fact, the IRS will only make an official reply to your request if it is turned down for any reason.

However, there is one thing which you need to be very clear about. Filling out and sending in a Form 4868 does not constitute a “get out of paying taxes free” card. All it does is extend the time you require to file for your taxes. It does not extend the time that is available to you to actually pay your taxes!

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Indeed, if you fail to make your full tax payment by the time of the due date, you will end up owing interest on the total amount. And you may well be charged certain other additional penalties, over and above that full amount, as the IRS may see fit to assess.

taxtaxWith the advent of the Internet, filing for a tax extension has become even easier. All you need to do is file your request electronically. This can be done by logging on to the official IRS home page and using the electronic IRS e-file system. This can also be done by a hired tax official who uses the IRS e-file system.

Whatever reason you may have to request a six month extension on filing your taxes, keep in mind that this only delays your filing period for that time.