Financial advisors (1) When someone is planning for retirement or simply creating a personal budget, there is a need to get help from an expert. Financial advisors are the professionals who help people to make decision about financial budgets. They provide financial services and products, depending upon the training and qualification examinations they have. They use their expertise and knowledge to generate customized financial plans that make for client easier to achieve financial goals. Those financial plans are not comprised of investments only but also budget, savings, tax strategies, and insurance. Role of financial advisor A financial advisor is a client’s financial planning companion. If a person is going to retire in 20 years and wants to send his child to private educational Institute in 10 years, then here comes a financial advisor, who accomplishes his goals and makes those plans a reality. One of the roles of financial advisor is to educate client about what can happen in achieving future goals. This is achieved by giving the detailed help to the client about financial topics. In starting, financial advisor helps the client regarding savings and budgeting.With the time, the advisor assists in understanding insurance, tax matters and complex investment. The first step of financial advisory procedure is about knowing the client’s financial health. A client need to fil a questionnaire which helps advisor to make a proper plan...

It is strategic planning, direction, organization, and control of financial procedures within a company. Any enterprise needs to ensure a secure and steady cash flow.Accounting software is a type of application software that documents and manages accounting transactions, accounts receivable, accounts payable, general Ledger, Journal trial, balance, and payroll.The use of transaction journals is a traditional way of performing financial tasks.

Credit score A credit score is a statistical numerical value that depicts the person’s creditworthiness. This statistical number is based on the credit history of a person, usually taken from credit bureaus. Credit history includes total debts level, open accounts, repayment history, and some other factors. Credit scoring has become very important with a dramatic increase in applicant credit in recent years. Credit refers to the amount of money that is lent to the applicant which must be then repaid at a specific interest rate, in installments. Different bodies like banks, utilities, mail order companies, and various other organizations make decisions about whether to grant credit to the applicant or not. (1) This figure helps the lender to evaluate the borrower’s eligibility, his behavior of repaying his previous debts. The borrower qualifies for the loan after a good credit score. The credit score of a person also determines the interest rate and credit limit to be given. The better the credit score, the more trustworthy a borrower is considered by the potential lenders. (2) The value of credit score ranges from 300 to 850, however it also depends upon the states. In Canada, a credit score can go up as high as 900. How is a credit score calculated? There are many credit scoring systems. Among them, the most common is the FICO scoring system. Fair Isaac Corporation or...

Cashback credit cards (1) A cashback credit card is a beneficial card that refunds a small percentage of money on a single purchase. It also refers to the practice of cardholder to get an incentive when he exceeds the specific purchase threshold. It is an incentive program operated by companies issuing a credit card. In the last two decades, it has become dramatically popular. In 1990, this program of giving incentive was offered by major credit card companies only. Later on, these programs have become ubiquitous, and now nearly all credit card companies are offering this feature on all or at least one of their products. It tempts the current client to use the card often and attracts the new client to switch from a previous competitor and sign up for the card giving the best rates. Traditional card issuers offer reward points that can only be used to buy goods and other services. But cashback credit card offers actual cash. This cash is applied to purchases or credit card bills, or cash holders may get it on a monthly credit card statement. Sometimes the consumer gets it directly in checking account deposits, or through the check via mail. The percentage of cash reward ranges between 1-3% of a transaction, but some card issuers can raise it as high as 5%. Merchant-partnership offers double incentive on a single transaction...

Travel credit card (1) It is a card that provides rewards to a client on travel-related spending.It is in the form of reward points or miles given to the client that he used for making purchases related to travelings, such as hotel rooms, flights, and planes. The rewards can be profitable, but they can also come with annual fees. A Card Holder can enjoy many perks related to traveling such as elite hotels, free traveling, and using expensive airlines. How do travel credit cards function? The person who travels a lot also spends a lot on travel-related expenses such as hotel stays, airfare, restaurants, and transport rents. The use of a travel credit card helps the consumer to save money on such expenses. A Co-branded card includes the consumer into the brand’s membership club and rewards for all kinds of spending. For example, if a consumer uses a Delta credit card, it rewards him with SkyMiles that can be used in future traveling. Many Co-branded cards provide membership tiers that facilitate a cardholder with a variety of benefits. But the redemption options are limited to the specific brand only. Whereas, general travel cards reward all kinds of spending and have more redemption alternatives. Comparative to other reward cards travel reward credit card offers elevated earning rates. Why use a travel credit card? (2) COVID-19 has fiercely altered the way...