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.
How can drivers find the cheapest gas prices?
Driver can find the cheapest gas prices by using an app to search for the lowest prices in their area. Some apps such as Gas Guru take note of your location, and provide a list of gas stations nearby, along with the cost of gas currently being sold at each station.
Is it possible to improve a vehicle's fuel efficiency?
There are things you can do to slightly improve the fuel efficiency of your vehicle. Make sure your car's tires are properly inflated, and treat your engine to regular tune-ups. Check your engine's air filter, since a dirty air filter will compromise fuel economy.
Why must drivers shut off their engine before pumping gas?
Drivers must shut their engine off before pumping gas because it's illegal to fuel with the engine running, even though this law isn't always aggressively enforced. Pumping gas with the engine running can compromise your safety. When your car's engine is running, it's possible for its catalytic converters to generate heat that could ignite gasoline, and start a fire.
Can cell phones ignite a gasoline vapor fire?
Even though many gas stations have warnings advising you not to use your cell phone while fueling, the chances of cell phones igniting a gasoline vapor fire are extremely remote. However, fires at the gas pump may be caused by static electricity discharge. For safe fueling, it's recommended that you turn off your car's engine and avoid smoking at the pump. Also, you should never re-enter your vehicle while refueling.
Why are gas prices not uniform, even across same-brand stations?
Many factors contribute to the lack of uniformity in gas prices. Retailers consider their tax responsibilities when setting gas prices. States place varying taxes on gasoline retailers, and a state with higher taxes will have higher gas prices than a state in which the taxes are lower. Also, if a gas station is located in an especially competitive area, a branded operator may receive wholesale discounts that allow the station to sell gas at a lower price. This is done by brands to keep their gas competitive in tight markets.