You Can Have Financial Success With The Right Financial Education

Financial EducationLet’s talk personal financial success. Most people in the current economy are not finding personal financial abundance even though they all secretly desire it.

I’ve yet to meet anyone who doesn’t want to create wealth and do well with their personal finances. However, during the six years I spent working as a financial planner, I met many families who struggled with the concepts of financial prosperity and making more money.

Here’s what I saw when meeting new clients: High debt, low investment funds, and an over-all lack of financial education. I rarely saw financial success.

My clients were searching for a way to eliminate debt, stay out of debt, invest wisely and achieve financial abundance. All the while, they were making decisions and had created financial habits that had them straying down the road of poverty.

One of the things I realized after working in the personal finance field is that there is very little personal finance education for the average person. Too many people operate their financial lives without a plan.

If this is how you’ve been living your life and you’re struggling with becoming more comfortable financially, it’s time to formulate your goals and dreams.

It’s as if you were taking a trip. You wouldn’t set off on a trip from New York, NY to Orlando, FL (Disney World sounds kind of nice) without a map, would you? No, you’d get out the map and formulate a plan to get there correctly. So, why try to accomplish success with your personal finances without figuring out the best route?

If you fail to plan, you plan to fail. If you desire personal financial success, it won’t come from over-spending on frivolous purchases, racking up a ton of credit card debt, or living without some sort of personal financial plan.

Debt proof living needs to be your focus. Therefore, you must focus your attention on the following areas of personal finance: budgeting, planning, get out of debt, reduce taxes, investments, real estate, etc.

If you truly desire financial success with your money matters, you’ll need to get a handle on these areas. If you desire this goal, there’s no other way around it…you must put your attention on these areas.

Very few people are handed wealth and financial abundance on a silver platter, but it can be attained by adjusting your wealth consciousness, using some visualization, formulating a plan and sticking to it.

Imagine the inner peace you will feel when you perfect your personal finances!

Organize Your Financial Planning

Financial PlanningTo have the most organized financial planning, be sure that you are having or following a planning that can assist you to complete your taxes annually, going all the way out to obtain deduction and also to provide you with proper guide of how to use the returned money from tax breaks. You will need to understand what a financial planner does before you decide to use their professions.
According to financial planning articles, it is important that one understands the importance of financial planning, their goals in life, future planning, the need of wealth management, organizing your financial information and useful guidance about taxes. You see, more and more companies are offering financial planning programs to average citizen so basically it is good for you. It is no longer only for the rich; everyone can enjoy the help from experts to guide them in financial planning. But certainly, you will need to pay a price for their skills.
If you are looking for the best company to have an organized financial planning, there are plenty of services that serve such purposes. One very beneficial option is to seek assistance from a certified financial planner. This expertise is just perfect if what you want is a broad analysis of your financial plan. Usually they will have at least three years of working experience, practice strict ethic codes and will need to pass three exams before they are allowed to provide their profession services to customers. Normally they should also be equipped with tax planning knowledge.
Financial planning articles are really great. They highlighted another great choice of financial planning – a certified public accountant. This is the best option if what you have been worried about is your taxes and nothing else. These people are usually trained under an extensive program completed with stern testing and examinations to be tiptop in their profession. Other options enlightened include chartered retirement planning counselors and chartered financial consultant where both are great to help you regarding retirement plan although they might not be too detailed in their expertise.

What Is Financial Statement?

Financial StatementHow do you define financial statement? Financial statement is a report of a company’s earnings, assets, liabilities, cash flows and income. It gives the financial condition of a company, meaning if it is growing or losing money. It is not hard to read a financial statement, it is only like reading an electricity bill.

Actually, it isn’t difficult. If you know how to read a credit card bill, you can learn to read basic financial statements. Basics are not hard to learn, you only need a bit of patience.

So the question is: Why do you need to study financial statement? A financial statement is a documentation of the company’s financial status or condition. It is very helpful for an investor because it will determine if a company is a good investment or not.

A financial statement will give you the financial information about the company such as its liabilities, earnings, cash flows and assets. It is an important tool to determine if the company is increasing its earnings or losing money and it can be simply understand by the readers. It is a simple report which is usually in tabulated form.

A financial statement can be separated into four parts: income statements, balance sheets, statements of shareholder’s equity and cash flow statement. Income statement shows how the revenue is converted to net income of the company. On the other hand, balance sheets indicates what a company owns or its assets and liabilities in a particular period.

In financial accounting, a cash flow statement, is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities. The fourth financial statement, called a statement of shareholders’ equity, shows changes in the interests of the company’s shareholders over time.

In conclusion, a financial statement is a helpful tool to determine if the company is a good company to buy in terms of investing in its stocks. It is the representation of the financial status of the company and the gives the over-all performance made by the company in a particular period.

A Meaningful Education To The Children In Rural Areas.

A good Education is a right of every child, regardless of his financial,educational background.”Children are the future of the nation” we frequently hear,read and even

talk about this sentence, but are we seriously think over this? These days education get more and more costlier and it is not easy to even middle class people in urban areas.

There are good NGOs who work for the cause of meaningful education to the children in the rural areas with minimal fees and absolutely without donation.They provide children with different activities which help them to develop the different skills the children owned.’Sankalpa Seva Sangh’ is an NGO registered in the year 2003 under the Society and Trust Act. The trust was formed basically keeping in view the upliftment of the rural people.

The name of the school is ‘SHINING STAR ACADEMY’. The aim of the school is to provide the students with best kinds of facilities and to look out for the overall development of students in academics, sports, and in other extra-curricular activities.

The school is also provide personal attention to each child and fulfill the educational needs, provides physical care.Along with the academic knowledge spiritual knowledge is also given to the children.

The school is looking at other avenues to generate funds, as it do not intend to take donation from parents or charge exorbitant fees. People can come forward to donate generously in cash or kind.

Avoiding The Irs Wrath

Please remember that prevention better than a cure. The axiom of an ounce of prevention is better than a pound of cure holds true with the IRS and the issuance of IRS bank levies and IRS wage garnishments. Levies and garnishments are strong arm aggressive collection tactics employed when the IRS believes that the delinquent tax payer is being uncooperative and non-responsive.

If you cannot pay all taxes owed when filling your return, submit IRS Form 9465, Installment Agreement Request. Form 9465 provides for an installment agreement. This permits you to pay back taxes owed to the IRS over a period of time while avoiding collection activity. The IRS installment agreement are generally accepted without question when certain conditions are met. Code section 6159(c) provides as follows: (c) In the case of a liability for tax of an individual under subtitle A, the Secretary shall enter into an agreement to accept the payment of such tax in installments if, as of the date the individual offers to enter into the agreement–

(1) the aggregate amount of such liability (determined without regard to interest, penalties, additions to the tax, and additional amounts) does not exceed $10,000,

(2) the taxpayer (and, if such liability relates to a joint return, the taxpayer’s spouse) has not, during any of the preceding 5 taxable years–(A) failed to file any return of tax imposed by subtitle A,(B) failed to pay any tax required to be shown on any such return, or(C) entered into an installment agreement under this section for payment of any tax imposed by subtitle A,

(3) the Secretary determines that the taxpayer is financially unable to pay such liability in full when due (and the taxpayer submits such information as the Secretary may require to make such determination),

(4) the agreement requires full payment of such liability within 3 years, and

(5) the taxpayer agrees to comply with the provisions of this title for the period such agreement is in effect.

The installment agreement plan should be acceptable for tax payers facing a first time tax delinquency under $10,000 that make reasonably aggressive monthly payments. The law also provides, at section (c)(3), that the IRS must determine that you are “financially unable to pay” the tax in full and on time. A financial statement, IRS Form 433-A reflects all income, expenses, assets and liabilities. IRS Form 433-A establishes your “disposable income.” The IRS equates disposable income to ability to pay

The IRS is precluded from collection activities such as bank levies or wage garnishments when an installment agreement is filed or during the pendency of negotiations of the agreement. Code section 6331(k)(2)(A). The IRS may revoke the agreement and undertake enforcement action after thirty days should the taxpayer default on the agreement.

The failure to file Form 9465 when filing a tax return without full payment may result in immediate collections. Th IRS will initially send a simple written notice reminding you you forgot to pay al of the taxes owed. This form letter will appear in five to eight weeks after the return is processed. The IRS asks for payment and calculates interest and penalties. Response and payment in conjunction with this correspondence avoids “further accumulations of interest and penalties.” Penalties and interest will continue to mount if one fails to pay the tax debt owed. The initial notice is not a notice of intent to levy as the requirements mandated by code section 6331(d)(4) are not satisfied. The final notice is marked “final notice” and provides your right to a due process hearing. The hearing is provided under code section 6330. This hearing shall occur before enforcement action may commence. Only the final notice effectuate the IRS’s enforcement rights under code section 6331(a).

All responses to IRS notices to collect back taxes or tax debt should be in writing and sent via certified mail with return receipt requested. Advise the IRS that you cannot pay the entrie IRS tax debt or tax liability in full and that you need an installment agreement. Include Form 9465 and advise on the form how much you can afford to pay on a monthly basis. Submission of the installment plan and submission of an offer in compromise will toll aggressive enforcement actions.

Advise the IRS as follows: “I do not have the income or assets to be able to pay the bill in full and enforcement action will cause an undue economic hardship by making it impossible for me to pay my living expenses.” Request an installment payment amount you calculated based on your actual income and expenses. The IRS will attempt to utilize their table for allowable expenses in your area. The IRS will request additional information via IRS Form 433-A if additional financial information is necessary or needed.

Excessive delays and failure to respond to the IRS will result in issuance of the final notice or notice of intent to levy. This notice requires immediate response. Absent immediate response, the IRS will initiate aggressive collection tactics. Contact the Tax payers advocate service or retain professional help. I provide help for reasonable payments that are generally easy to meet because I understand your situation.

Correspondence to the Taxpayer Advocate should include the final notice, the date that your received the final notice, and an explanation why you cannot endure enforcement. Include an installment agreement with this correspondence.

Uncollectible

Uncollectible status may arise when a tax payer simply cannot pay and cannot meet a reasonable installment plan obligation. Uncollectible status results in a freeze of collections, but it also tolls your statute of limitations. Uncollectible status requires unemployment, health reasons, very low income, or a showing of undue financial hardship. Uncollectible status may be requested via IRS Form 9465. Line 11 reflects how much you can pay so put $0.00 “Zero” and advise at the bottom that you are “seeking uncollectible status.” Advise why you cannot make a payment due to your harsh financial circumstances.

Penalties and interest will continue to accrue even when the account is marked uncollectible due to financial hardship. Seek professional help to discuss options such as an Consider an Offer in Compromise, bankruptcy or other strategy to reduce or eliminate outstanding and mounting back tax obligation.

Wage and Bank Levies

Bank levies and wage garnishments are extremely difficult matters to handle, but there is recourse. A wage levy attaches to the next paycheck. All money beyond current tax withholdings and the minimum exemption amounts will be taken by the IRS. The IRS can take all money in your bank account[s]. Bank levies are governed by section 6332(c). Section 6332(c) mandates that a bank surrender your money to the IRS after 21 days. Your bank account is frozen in the interim of this process. You only have 21 days to act or that money is gone. NSF fees will accumulate and you will not be able to utilize your account or even get another account. The bank will charge an additional $ 100.00 fee for good measure. Bank levies are serious and difficult matters to handle. You should immediately consider consulting with a professional if your bank account has been levied.

Practice Test Paper & Mock Test Of Nism Series

National Institute of Securities Markets (NISM) is a public trust, established by the Securities and Exchange Board of India (SEBI), the regulator for securities markets in India. It is located in Navi Mumbai, India. Towards accomplishing the desire of Government of India and vision of SEBI, NISM has launched an effort to deliver financial and securities education at various levels and across various segments in India and abroad. To implement its objectives, NISM has established six distinct schools to cater the educational needs of various constituencies such as investor, issuers, intermediaries, regulatory staff, policy makers, academia and future professionals of securities markets. NISM seeks to add to market quality through educational initiatives. It is an autonomous body governed by its Board of Governors. An international Advisory Council provides strategic guidance to NISM.NISM brings out various publications on securities markets with a view to enhance knowledge levels of participants in the securities industry.

NISM is mandated to develop and implement online test certification for professionals employed in the Indian securities markets. NISM certification tests are designed to deliver financial and securities education at various levels and across various segments. There is no eligibility requirement with regards to age as well as educational qualification to take the NISM exam.

NISM Test or NISM module includes:

NISM-Series-I: Currency Derivatives Certification Examination

NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents Corporate Certification Examination

NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents Mutual Fund Certification Examination

NISM-Series-IV: Interest Rate Derivatives Certification Examination

NISM Series-V A: Mutual Fund Distributors Certification Examination

NISM Series-VI: Depository Operations Certification Examination

NISM-Series-VII: Securities Operations and Risk Management Certification Examination

NISM-Series-VIII: Equity Derivatives Certification Examination

Certified Personal Financial Advisor (CPFA) Examination

The tests aim to impart working knowledge to the candidates on the basics of concerned markets, like currency derivatives markets, interest rate derivative markets, mutual funds, asset management, financial planning, securities market, depository systems, regulatory framework and the ability to analyze and evaluate different financial products and provide effective financial advisory.

Intelivisto, in-line with the objectives of SEBI & NISM, have already started taking different measures for financial education among the masses and budding professionals. These measures are in form of various Securities Market Certification practice tests and Seminars & Workshops on related subject-matters.

Intelivisto.com offers the NISM mock, chapter wise and full length online test for the preparation of NISM exams. Tests designed by Intelivisto experts are as per the parameters set by apex securities market institute NISM. These tests feature 1000 – 1500 questions. Tests carry the same pattern and testing mechanism as set for NISM online tests. Full length tests cover the questions from units in same ratio as set for respective NISM test and analysis of aspirants performance with detailed report at a microscopic level with intelivistos assessment tools.

Invest In Mutual Funds Or Bank Fixed Deposits

I have often seen people planning to Invest in bank Fixed Deposits rather than Equity related Mutual Funds inspite of the growing Indian Economy and rising stock market. Though the times are changing and people have started looking at Equity Investment schemes, but still its only the minority of people savings going into the equity market.

Indians are skeptic about investing in Equities. Reason behind so is lack of knowledge and general awareness of the benefits. One needs to understand that stock markets are the best way to benefit from a country which economy GDP is growing over 8.5% year on year. Stock market basically resembles a Nation’s financial condition which of India is going to get better n better.

Indian Money Is Way Too Conservative

Fact figures suggests that 48% of total American savings goes for investing in schemes related to equities. On the other hand the fact figure for Indian savings money routed to equities stands at a merely small total of just 2%. No wonder, both the Indian Government and leading Indian Stock Exchanges are always keen to generate interest and awareness within the common people indicating towards the benefit of investing in equities for the long term.

Its the lack of Financial Education which keeps Indian savings money away from the Equities, since they are not ever formally introduced to financial planning and Investing. Majority of people believes that small investors cannot earn money from stock market, which absolutely is just a myth and nothing more.

Indian Investors still prefers the traditional way of Investment like Fixed Deposits. In fact Fixed Deposits are so famous and traditional that, during daughters marriage, father often gifts Fixed Deposits!

What Is A Bank Fixed Deposit?

A fixed-income debt security issued by banks. A Fixed Deposit is like loaning the bank your money and in return, they pay you interest which is currently between 8-9.5% p.a.

At this interest rates your money will double approx in 7-8 years. Too less, too late? Read on

Why You Should Not Be Investing In Fixed Deposits?

The most unusual characteristic of a fixed deposit is that the funds cannot be withdrawn for a specified period of time which is usually 3 years since deposit for any reason.

Changes in the going interest rate may also rise to a point above and beyond the interest rate applied to existing deposits done with the banks. This means account holders are actually earning less interest with fixed deposits than with other types of products.

What is a Mutual Fund?

A Mutual Fund is a investment scheme maintained and run by professional fund managers working under the name of a Financial Institute or a Fund House. Money is being collected from different and many investors and then collectively put in a pool account from where the fund managers makes Buy and Sell trades according to there own group research and investment objectives.

Dalal Street people prefers you thinking that what they do with your money is some rocket science and you are absolutely not the right person to take your own financial decision so that they keep earning fat commissions for themselves you being entrusting them your hard earned money.

Though its a different case that of course you can also invest your money yourself with little bit of research and with the help of expert Indian stock advisory services like Winfromus which generates higher returns than the different Mutual Fund schemes.

But never the less, there are some real good fund managers out there too, doing what they are best at and most of the good names has been successfully generating 13-15% Compounded Annual Growth Returns (CAGR) since the past 5-6 years.

CAGR Projection over the next 3 years from Indian Stock Markets

Conservative projection suggests that the Indian markets can deliver CAGR of 15-18% over the next 3 years and optimistic like me expects 20% CAGR over the next 3 years with the right selected stocks and sectors.

20% CAGR is not just a dream, but it is also fundamentally backed by growing GDP, country’s financial condition and over all economical and business development which is on course and expected to grow at a descent pace.

Fixed Deposits Returns are Guaranteed, Mutual Funds Are Not – What about my money safety?

Well, for a matter of fact nobody can guarantee you returns while investing in equity via any possible way, since it involves risk. But theres a way to cut the risk virtually to Zero levels and still get benefited the most. The secret is Systematic Investment Planning (SIP).

Systematic Investment allows you to stay invested without worrying to time the markets or about the volatility we see in stock market. In fact SIP works out best when markets are volatile. The funda of systematic investing works on a simple formula invented by world’s most genius ever Albert Einstein – Power of Compounding.

While SIP, rupee cost averaging and compounding of returns/interest earned on principle over a period of time compounds together and puts significant impact on wealth creation over the long run and stock market being a cyclical asset, it is very likely that you will see a higher end where you may take profits and then go conservative.

Do you know how much money can be made on investment of just Rs 10,000/- per month at a CAGR of 20%? I have done the maths, here’s the result –

* Rs 10k/month Invested for 5 years at 20% CAGR to become 10 lacs
* Rs 10k/month Invested for 10 years at 20% CAGR to become 35 lacs
* Rs 10k/month Invested for 15 years at 20% CAGR to become 95 lacs
* Rs 10k/month Invested for 20 years at 20% CAGR to become 2.4 crore

Eventually In 25 years 10000/month @ 20% CAGR (compounded annual growth rate) to become 6.1 crores and in 30 years 10000/month @ 20% CAGR to become a whopping 15 crores. The longer you invest, the higher would get your returns.

Think Mature, Aim Higher, Plan and Set A Goal…

Fixed Deposits cannot generate the kind of returns stock markets will and theres no doubt about it. If you are young and want to Invest and grow your money big, equities are the way to go. Don’t be skeptic and look at the brighter side of investing in Stock Market, you don’t get such money making opportunity in a lifetime.

Returns of fixed deposits may not even beat Inflation rates, then whats the use of saving money in them and allowing money to sit idle to generate lesser returns on investment when a simple SIP in equities can do a better performance for your money? Think about it..

Happy Investing!!

Erp Software Solution – Easysol

ERP is a management system which uses software application to integrate all aspects of the business and facilitate the stream of data between critical back-office tasks. It is one software system but performs different functions like financing, marketing, supply chain management,distribution, accounting, inventory management, human resources, manufacturing, development, and other functioning components. With the help of ERP system software you can monitor and track all business activity as it takes place.

EasySol consists of application components and includes a set of analytical tools. These modules are integrated on one platform that is automated for different difficult functions and are spurring demand for enterprise solutions once solely dominated by large enterprise-side on premise solutions. ERP applications are growing in popularity and sparking demand across small and mid-sized companies across the globe. The key attractive features of our EasySol-ERP software solutions are its low capital cost of entry, the incredibly fast deployment times required for the enterprise solutions that greatly increase the projects ROI and the modular system design.

ERP inventory module is used to manage the stock inventory through the production cycle and covers all stock related functions including shipping, logistics, orders, billing, on a broader scale, warehouse management, reconciling the inventory balances, and reporting inventory status setting targets, providing replenishment techniques and options, monitoring item usages. Integration of inventory control module with sales, purchase, finance modules allows EasySol ERP systems to generate vigilant executive level reports.

Purchase moduleĀ  in ERP Solution simplifies procurement of required raw materials. This module also identifies potential suppliers, offers access to approved supplier, purchase order management, purchase enquiry to be floated to multiple vendors. It automates the processes of negotiating price, awarding purchase order to the supplier, and billing processes. Purchase module is tightly integrated with the inventory control and production planning modules.

ERP sales module implements functions of order placement, order scheduling, shipping and invoicing.

With the help of ERP accounting module can gather financial data from various functional departments, and generates valuable financial reports such general ledger, trail balance, balance sheet and quarterly financial statements.

EasySol EPR Reporting module provides reports with calculated data, often represented in the form of lists or graphs. These reports are dynamic, and you can navigate through the data that comprise the figures through the client interface.

EasySol is the software which is designed to manage all aspects, beneficial for Distributors, Chemists, Manufacturers, Chain Pharmacies, Department Stores, and General Stores as Chemist POS, Pharma Distributer Software and Pharma software.

We Provide Chemist POS, Pharma POS, Retail POS, Pharma Distributer Software, Pharma Retail Software, Pharma Solutions, Distribution Software, Retail Chain Software, Departmental Store Software, Retail POS Software.