Can anyone give me a financial advice web address?

[gman]

[Nutsters-Chick]

see link below, there's more than one to choose from.

[Kristine M]

If you're looking for general articles on personal finance go to...

http://money.cnn.com/
http://www.kiplinger.com/starting/

If you're looking for a financial planner (the first two sites are for fee-only financial planners), go to:
http://garrettplanningnetwork.com/pages/splash/index.htm
http://napfa.org/
http://www.fpanet.org/

If you would like to find a financial advisor who provides advice online, go to:
http://www.myfinancialadvice.com/Customer/Default.aspx

I hope this helps!

[Dodie]

Are you in U.K.? Try Martin Lewis' website, he gives loads of good financial advise. He has been on T.V. a lot advising bank customers on how to reclaim their bank charges. If you go to his site you will find that there are quite a few very good tips.

www.moneysavingexpert.com

Good luck!

[Grahame .]

Problem is.. what area of finance advice are you looking for?
- personal finance - business loans,
- stock market advice, - options trading advice
- property finance - retirement financial advice
etc etc :)

Apart from getting down to any one particular area of finance, there are some finance concepts that exist in all areas. If you can understand those.. then applying them to an individual area will give you a really good head start.

The main general concept is this:
Assets put money into your pocket. Liabilities take money from your pocket.
(sounds really simple.. but its also really powerful when you understand it)

So what that means is.. when you buy your own house and have a loan with a bank (or similar) then its not really YOUR asset.. its the BANK's asset. Why? Because it puts money into the banks pocket (interest) and takes money from your pocket (a liability).
In fact even when you pay off your own house completely.. it is still a liability as you still have to pay sewage, water, heating costs (expenses). AND.. it does not bring in any income.
Unless of course.. you rent out a room or two and the total rent (income) is greater than all of the costs (expenses) -- then it becomes an asset, as it will now be returning to you money as income (after all house related expenses are paid)

So.. how does that look on a balance sheet? (the dots are only there to make the lines meet up)

....|----------------|
|->|..Income....|
|...|----------------|
|...|.Expenses.| <-|
|...|----------------|....|
|........................|
|..|-----------------|---|------------------|
|--|--o.Assets..|...o..Liabilities...|
...|----------------|-----------------------|

(well it looked ok when I was editing it! Try to imagine a box is around the word Liabilities)

Another example (to make it even easier to understand)
A credit card is a Liability as the result of having an outstanding debt, also has an amount show up in the expenses section as a monthly payment to the bank.
A saving account that returns interest is an Asset, as it also has an amount show up in the income section as interest paid to you.

---------------------
OK.. here is a practical application of this with investment property...

a. the property is negative cash flow(or gearing) (rent is less than total expenses)
So after you pay the loan, insurance, sewage, water, etc costs, the rent is not enough to cover it and so you need to supplement the rent shortfall with money you have earned from your job. -> this property is a liability.

b. the property is positive cash flow(or gearing) (rent is more than total expenses)
So after you pay the loan, agents fees, insurance, water etc, costs, there is still rent left over (income to you) -> this property is an asset (to you AND the bank)

Now with property in the western world, it is very popular to buy a negative cash flow (or gearing) property and reduce your tax because of the loss of income (paying money from your job to the expenses of the property as the rent is not enough). So the tax man will give you back some of your tax because of this loss of income.
BUT BEWARE..... the tax man only gives you back say 50% at most.. so you loose say $100 per month from your income and the tax man gives you back $50.
Is this really a good deal?
Well.. if you gave me $100 and I gave you back $50.. how many more times would you want to do that? Not even once right!? And if you had 10 investment properties losing $100 per month.. then thats $1000 to the tax man and $500 back to you.. then what happens if you lose your job.. yep.. big problem.

And.. if you have positive cash flow (or gearing) property then it is putting say $100 every month into your income. After you pay tax on the extra income (say $50) then you get to keep the other $50. And if you had 10 of those properties then that would be and extra $500 per month income after tax.

So.. in summary..
An asset puts money in your pocket
A Liability takes money from your pocket.


---------
I would like to thank Robert Kyosaki for teaching this concept to me.. after that I reduced my credit cards from $58000 total debt to $25000 and I am on track to reducing them to $0. Now the expenses from the credit card debt is less than my investment property income and so overall I am now earning 'asset' income and not just 'job' income.

If you can.. buy (~$20)/borrow a copy of Roberts Book "Rich Dad, Poor Dad". When I hear of a 'good investment' from friends or salespeople.. I am able to put the investment into the either the Asset or Liability category and choose to ask more or just say 'no thanks'.

Best wishes
Grahame

[Franco]

I think every person's situation is different and so websites are not much use, except or general education.

Private advice from an IFA is good but expensive.
Asking for answers on Yahoo can also be good as it allows you to consider the different alternatives and then use your own judgement.

[brian p]

Hi

You can gett FREE advice on financial matters at this website:
http://bestukloans.co.nr