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Feedback Q&A on Personal Finances

by Ron Kurtus

Readers have sent in a total of 19 comments and questions on Personal Finance issues. They are listed according to date.

You can read them to further your understanding of the subject.



List of next 10 letters

Topic

Title

Country

Resources Suggested resources USA
 
Resources Suggested finances resource USA
 
Resources Possible finance resource Philippines
 
General Responsibility of auditors to detect fraud Ghana
 
General Good financial resources USA
 
General Finances are out of whack USA
 
Resources Your page was so helpful to my students USA
 
Getting a Job Company recruiter mislead me about new job India
 
Paying Taxes How much estimated taxes must be paid USA
 

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First 10 letters


Suggested resources

Topic: Resources

Question

February 11, 2015

Hello,

The EducatorLabs team loves every opportunity to share educational material with others. Fun and engaging educational material is all the more welcome when it comes to subjects that may prove more challenging for some people, such as finances! We recently collected a handful of excellent online financial resources that we feel are appropriate for students of all ages. And, we thought they may be of interest to you, so we’re passing them along.

Have a look at our collection and feel free to share and post (maybe here: http://www.school-for-champions.com/finances/resources.htm?) as many as you’d like:

++
Financial Resource Collection for Students of All Ages

Money Quizzes | MyMoney.gov
http://www.mymoney.gov/quiz/Pages/Quizzes.aspx

Finance in the Classroom: Lesson Plans and Activities
http://financeintheclassroom.org/teacher/look.shtml

Financial Literacy Lesson Plans
http://www.usmint.gov/kids/teachers/financialliteracy/

Budgeting Worksheets
http://www.smartaboutmoney.org/Tools-Resources/Worksheets.aspx

Personal Finance Guide for People with Disabilities
http://www.calculators.org/savings/people-with-disabilities.php
++

I would love to hear back from you that these resources were useful and that you’re on board with sharing them!

That said, please also let me know in an email response if you'd rather not hear from me in the future. I understand and respect your wishes!

Happy learning!
Jasmine

Jasmine Dyoco | information@educatorlabs.org
http://educatorlabs.org/ | Cultivating. Connecting. Curating.
2054 Kildaire Farm Rd. #204 | Cary, NC | 27518

Jasmine - USA

25763

Answer

Thanks for the resources. I added them to Personal Finance Resources, along with a reference to Educator Labs.

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Suggested finances resource

Topic: Resources

Question

October 14, 2014

Hi Ron,

Shelby here from InvestingTips360. I was checking out your personal finance/investing resources today & noticed you shared an article from Motley Fool, 13 Steps to Investing.

I recently put together a list of 101 investing tips for my readers that has gotten some pretty good feedback, http://www.investingtips360.com/how-to-invest-in-stocks/.

Was curious if you'd be interested in adding it to your resource list?

Cheers,

Shelby - USA

25447

Answer

Thanks for the resource. It has been added to Personal Finances Resources.

Best wishes with your endeavors.

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Possible finance resource

Topic: Resources

Question

February 15, 2014

Hi there,


My name is Angie and I'm a Community Outreach Specialist at Pocketbook. I'm also a regular visitor of School for Champions and I stumbled upon your page on personal finance resources: http://www.school-for-champions.com/finances/resources.htm .

I noticed you linked to various sites about financial links so I'd like to give you a heads up about ours: https://getpocketbook.com/ and ask about how I can get it included into the list.

Pocketbook is a simple free personal finance management startup that's available globally. While we don't support bank sync just yet, it's something in our roadmap.

I look forward to your feedback! And if you have any questions, I'm all ears. :D

Thank you!

Sincerely,

Angie Villaflor
Community Outreach Specialist, GetPocketbook.com

angie - Philippines

24519

Answer

Although I am sure your application is useful, immediately requiring an email address to get any information is a big turn-off. It is forcing the user to download the app without even demo information. Even if the app is free, it implies sell, sell, sell.

Right now, I don't think it is a good fit.

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Responsibility of auditors to detect fraud

Topic: General

Question

April 23, 2013

what is the responsibility of auditors in the detection and prevention of fraud in companies?

David - Ghana

23639

Answer

The responsibility must be defined, according to the type of auditor.

A financial auditor may be instructed to not only verify the accounting is correct but also to note anything that may look suspicious.

An ISO 9000 auditor must make sure the company is following its stated policies and procedures. If the auditor finds the company is skipping steps, it may be an indication of fraud.

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Good financial resources

Topic: General

Question

September 17, 2012

Good morning,

I hope you don't mind me reaching out to you like this. My name is Joan Ward and I'm an elementary teacher from Maine. I'm writing because I'm in the middle of a web project. I'm updating my neglected class website. It hasn't been updated since January, quite the task now as you can imagine...

I'm working on a financial literacy page. I spend a lot of time on teaching about money. For example, I have the students balance fake checkbooks and purchase supplies with fake money throughout the school year. Financial literacy is so important for this generation and not emphasized enough in schools. So, I decided to enlist the help of my students. So the ones that were interested in getting extra credit at the start of the school year have been providing me with financial literary web pages for kids and teens.

One student in particular recommended your page (schoolforchampions.com/finances/resources.htm) for me to include. I just thought I'd let you know that :)

He also recommended these other pages that might be a good fit for your website:

Financial Literacy For Kids and Teens! - (www.onlineloancalculator.org/resources/financial-literacy.php/).
Learn About Credit - (creditcardselect.com/learn-about-credit-a-guide-for-kids-and-teens/).

If you find them useful, would you mind adding them? If so, I'd like to show him. I think it would be a great motivator to him as well as the other students. Thanks so much for being a part of this, I really appreciate it! Give me a shout back if you decide to include it.

I look forward to hearing from you,
Joan Ward

P.S. Heres two blogs you might find interesting, just something extra to peruse: susanbeacham.com/blog/ & teachkidsmoney.blogspot.com/

Joan - USA

22908

Answer

Thanks for feedback. I added your suggested links and blogs to the Resource page.

What is the name of your school, location, and website. I can add it to our List of Champion Middle and Grade Schools.

Also, let me know when you finish your financial literacy page.

Best wishes for success in your classes and for your students. It is good to have enthusiastic students.

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Finances are out of whack

Topic: General

Question

August 29, 2012

Ron, HELP, seems as if everything is out of whack, help our kids too much, poor decision making, can't seem to ever get on top of things. used to have PERFECT credit, now it is crap. we make too much to have to put up with this B.S. hope you can help with advise and help us set up a plan!!!

Mark - USA

22866

Answer

Sorry to hear you've got some financial problems. Join the crowd. One reason many have such problems is that credit has been too easy to get, such that people get in over their heads.

One thing I believe is that having too many credit cards lead to loss of control over how much you spend. Besides a few store cards, you should be able to get by with only one credit card.

Take a step back and look over your whole financial situation. A good thing to do is to keep a Money Diary, where you list your income and how much you spend each week. Having to write down what you spend and why you spend it makes you more aware and helps to control what you do. This can lead to making a budget, where you allocate how much to spend each week.

Although writing this stuff down takes an effort, it is worthwhile.

Bring your whole family in on your financial situation. Often kids think their parents are a "money tree". When they realize that you have to watch your pennies, they often rise to the occasion.

Another thing is that helping your children too much isn't doing them a favor. Instead, you are not letting them know how to handle their own financial affairs.

A couple of websites that may help with financial tips are Savings Guide from Australia and MoneyWise from the UK.

Best wishes on getting your head above water and getting in the right direction with your finances. I am sure you will be successful in your efforts.

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Your page was so helpful to my students

Topic: Resources

Question

November 16, 2011

I teach Economics and I came across your page while looking for resources for my class. Your page was so helpful!! The resources are great and my students will find them quite helpful. As a thank you here is another page I came across that I think would be a great additional resource on your page!!!

www.howtotradestocks.org/learn-about-stocks/basics-of-saving-and-investing.html

Take a look and let me know what you think!

Fawne - USA

22172

Answer

Thanks for the feedback. I'm glad the material is useful to your students.

Your suggested resource looks good, and I added it to our list.

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Company recruiter mislead me about new job

Topic: Getting a Job

Question

November 12, 2007

i am doing a job in well reputed MNC. before joining the company recuiters showed me the rosy pictures i.e. you will do these things and here is a lot of chances to promote.
but i have already spent three months here but neither they have committed their promises nor they are giving me a good job profile.

after joining i came to know that i am on contract basis,not on company payroll.that is what they did not tell me before,at the time fo interview.

what should i do? should i leave my job? will it give a wrong impression on my career profile. i am not getting any answer from anyside.

should i search for other job? my previous company was calling me back but i did
not join them as they were ready to pay me the same amount as i am getting here.because once you take your step ahead there is no need to look behind.

tell me what should i do? looking forward to hear from you soon.

thanks and regards

joya - India

14760

Answer

Unfortunately, some company recruiters mislead people just to fill positions.

There are several factors to consider in this job. Have you been hired on a contract basis with the potential of being hired as a full-time employee? Many companies use that as a way to check whether the person is well-qualified for the job. You should have been told this when you were hired.

Also, many companies will wait for several months to give new employees good assignments. They may not have the right job available at this time, or there may be other factors involved.

The big problem is that it looks like the company mislead you by not telling you that you are only on a contract and not fulfilling their promises. I would be very suspicious of such a company.

I would try to make a good impression while you are on this job. You might diplomatically ask your supervisor what plans they have for you and whether you will be hired on as a full-time employee. You could say something like, "I was just curious about what plans... etc."

It would also be good to investigate the reputation of this company. Do you know of other contract employees? What do they think about things? Never complain or let it on what you are doing.

It would be worth contacting your previous company to see if they still have a position open for you. Sometimes going back to a company you left will open the doors for promotions. At least you know they thought you were valuable to them.

You can also look around for another job, especially since you have been only hired on a contract basis. It will not affect your career profile if you left early, since you were hired as a contractor.

I hope these ideas help you in moving ahead in your career. Let me know how things turn out.

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How much estimated taxes must be paid

Topic: Paying Taxes

Question

June 18, 2007

I am a speech therapist and do contract work for a a therapy company year round. No money is taken from my taxes but I will be required to pay taxes at the end of the year. Approx. how much will I be required to pay to the goverment. $6000?


thanks

Alyssa - USA

13948

Answer

You really need to pay estimated taxes four times a year. Figure 25% of the money you made in the quarter. It is better to pay a little more and not be penalized. Also, if you are self-employed, you must pay extra Social Security.

If you are doing contract work for the company the year round and do not have other contracts, they may be advised to take you on as an employee.

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