Tips & Advice
What are financial products?
Financial products are designed to help you achieve objectives such as saving money, obtaining insurance, establishing a line of credit, investing, or getting a mortgage. Financial products are issued by organizations such as banks, credit unions, investment management firms, mortgage companies, insurance agencies, credit card companies, and stock brokerages.
What is a financial consultant?
A financial consultant is a professional who is qualified to provide guidance in the area of financial management. Some of these experts work for financial institutions, while others are self-employed and work directly with the public. A financial consultant can help you develop a financial strategy focused on savings, retirement, investments, or insurance, and Many are licensed to sell financial products such as stocks and bonds.
Types of financial services
- Financial planning: With financial planning, a financial adviser can help you chart a course to achieve a specific financial objective. Financial planning can be focused on things such retirement planning or funding your child's college education.
- Insurance: Insurance can be used to protect your most valuable assets, and policies are available to cover items such as your car and your home. Insurance can also be used to provide a source of income if you become disabled, and it can cover the costs associated with long-term care. Life insurance can be used to provide funds for your dependents after your death.
- Investment management: A well-chosen investment portfolio can provide you with consistent income over the years, and professional investment management can provide guidance to make smart portfolio choices. Investment management might involve the purchase of products such as stocks, bonds, and mutual funds.
- Loans: A loan can help provide the funds you need to finance large purchases, and can cover your expenses in emergency situations. Loans can be used to finance the purchase homes and cars, and they can be used to provide the funds for home remodeling or major car repair.
- Credit cards: A credit card allows the holder to purchase goods and services using credit issued by the card's provider.
Trust and estate planning: With trust and estate planning, you can create a strategy to ensure that your assets are passed on to the beneficiaries of your choosing.
What do financial services companies do?
Financial services companies provide financial planning, insurance policies, estate planning, investment management, loans, and credit cards. These financial services companies include retail and commercial banks, internet banks, stock brokerages, credit card companies, insurance companies, investment banks, credit unions, savings and loans associations, and mortgage companies.
What are financial services?
Financial services are professional services associated with the management of money and assets. These services include investment activities, such as those related to stocks, bonds, and mutual funds. Loans and lines of credit also fall under this umbrella. Additionally, financial services include insurance coverage and tax preparation.
What are some questions to ask a daycare as part of the selection process?
In addition to questions about cost, ask any potential daycare provider about licensing or accreditations and qualifications. Other questions to consider:
- What is the staff-to-child ratio?
- How long have they been in business? (Longevity and stability are highly desirable)
- Can you get references?
- How safe is the center?
- What plans are in place if a child gets sick?
- What (if any) is the curriculum?
- If transportation is necessary to get a child to or from the facility, what is the vehicle arrangement?
- What are the visitation rules?
- Are you closed during holidays?
- What is your cancellation policy if we leave?
- What if my child gets hurt while in your care?
What is a good caregiver-to-child ratio?
Having enough staff may be the most important part of any daycare provider. Having a staff-to-child ratio of 1:3 for infants, 1:6 for toddlers, and 1:9 for preschool-aged children is considered ideal. Generally the rule is, the younger the children the higher the caregiver-to-child ratio. Having more than that can be fine, but less than that is not.
How much does daycare cost?
The typical cost of full-time daycare is around $1,000 a month. That’s the average – you can spend more or less depending on your location, the type of daycare your child is attending, and if it is full or part-time. Also be sure to ask if it’s a year-round daycare. If it’s not, or they are closed for certain holidays, you will need to arrange for additional childcare coverage.
What steps do daycares take to keep children safe?
Daycare safety should start with:
Daycares should maintain a clean and sanitary environment to prevent the spread of germs and illnesses, including confirming with parents that kids are properly immunized, and having parents keep sick kids at home to prevent spreading illnesses. Many daycares also have stringent sign-in and sign-out procedures to make sure they know who is picking up (and dropping off) your child.
- Adequate supervision of the children – having an appropriate staff-to-child ratio (1:3 for infants, 1:6 for toddlers, and 1:9 for preschool-aged children).
- A regular training plan in place for health and safety issues, including pediatric CPR and having first-aid certified staff present at all times, and that procedures are in place for handling medications and dosages carefully and accurately.
- Making sure all poisons, drugs, and medications, as well as all toxic substances are safely removed from children’s reach.
- Ensuring all toys and playground products are safe (and regularly cleaned) and age-appropriate.
What is the difference between a licensed vs. an accredited daycare provider?
Licensed means the daycare program meets the minimum licensing standards that are set forth by the state – and licensing laws vary state-to-state. Accredited means the program meets the standards set forth by national groups like the National Association for Family Child Care (NAFCC) or the National Association for Education of Young Children (NAEYC). Usually the standards set forth by accreditation are higher than state-licensing regulations.