Archive for the ‘Personal Finance’ Category

Debt Consolidation Video

Wednesday, March 10th, 2010

Interesting video on debt consolidation.

[youtube]http://www.youtube.com/watch?v=QEySqw_UsfU[/youtube]

~Saving & Investing

Credit Card Interest Rates

Wednesday, March 10th, 2010

Video about credit card interest rates.

[youtube]http://www.youtube.com/watch?v=oPVh6h4Yvq8[/youtube]

~Saving & Investing

Managing Personal Finance

Sunday, November 15th, 2009

mint

Managing ones personal finance is a great way to learn more about the finance services industry and how to manage money on a larger scale.   Starting a portfolio will not necessarily help you nail that banking interview, but it will help you conceptualize the financial markets and understand the relationship between risk and reward.  Mint.com, a personal finance management site, allows user to add their bank, credit card, home loan and investment accounts to one portfolio and track their spending and performance.  Information is updated automatically and requires no written book keeping.

One of the best features of Mint is its budgeting capabilities. Very simple, users log on to their free account, and after reviewing their financial situation, set monthly budgets for all categories of their life including shopping, food, dining out, transportation, fuel, and anything else they wish to add.  Each month Mint tracks this data and sends out a personal report via email on how they spent their monthly budget and how far below or above the person went.

Mint also tracks credit card fees and interest rates to make a recommendation on the best credit card or bank to use based on that person’s spending habits.

Debt control is very important to recent graduates and can more often than not turn into a big problem.  Mint shows what you’ve borrowed and the interest rate at which you borrowed to help users pay off their most expensive loan first. The budget analysis tool is also good for making decisions where to cut spending as your frequency of visits to a particular retailer are also tracked.

Finally, learning to maximize a return on personal investments will prove to be helpful when embarking on a career in financial services.  Mint has a feature that allows users to track performance, returns, and fees on investment portfolios.  Users can compare their portfolio performance to the market, and track return on all accounts to maximize return and review asset allocation.  Additionally, small fees that become lost amongst the chaos can take away from investments such as fees to brokers, investment advisors, and 401(k) providers.  Mint tracks these fees so investors can see where they can save additional money.

~Catherine B.

Please visit Mint.com for more information…