bobbydozier / Your personal finance mate.

© Frerieke

So you've decided to file for bankruptcy and the first step is to go through the forms necessary to make a claim of bankruptcy. It might not be ideal for your personal finances but could be the solution to start fresh. Personal bankruptcy filling can be an a tidiest task, but according to the United States bankruptcy code, all forms of bankruptcy, that is all four sections of the form needs to be filled out by the applicant filing for bankruptcy.

You should answer all the questions truthfully. These forms become part of legal evidence to your application and must follow the bankruptcy code and procedural rules according to the congress. The first page of the form will require you to fill out personal details. The next part is what is known as Schedules. In Schedule B, individuals should list down all their assets, and in Schedule C is where you write the claimed exemptions.

A six-month study for the need to regulate financial planners by the Government Accountability Office (GAO) has commenced, and is expected to be completed in 2011. This study is being driven by a provision in The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

The basis of ordering this study is the fact that just as a doctor cannot be trusted when his only fees is the commission on the drugs he prescribes, the nation cannot trust financial planners whose sole income is the commission on products they sell.

In fact, most people who call themselves financial planners today, are in fact nothing more than insurance salespersons or investment advisors. They are not equipped to offer the full range of services expected from a financial planner such as balance sheet and fund-flow analysis, retirement planning, mortgage analysis, legacy planning or real estate tax management.

In this situation, the findings of the study are bound to have far-reaching implications on financial planners.

© TheMarque

Financial budgeting for the parents of prospective college students requires a great deal of work on the part of the budgeter. There are some things that you can do to ease the financial burden of sending your child to college. Suggest reasonable alternatives to diving straight into a traditional education as a jumping off point.

Ask a child who wants to go out of state to consider in state schooling. This can save you up to 50% on tuition not to mention room, board, and meals. If they not only stay in state but at home those savings increase dramatically.

You may suggest that your young learner start off at a community college and complete all of their basic courses and then transfer to a university after they have selected a major and achieved junior status. This is a fraction of the cost of a traditional university and most of these schools transfer straight into highly acclaimed universities without a hitch.

Another option is online education. This can be cheaper if you find the right school and it provides your child a super flexible schedule. They can travel if they wish, or seek gainful employment to help pay for their own classes. Check out earnmydegree.com for more information about this.

Though your child may argue that financial aid and loans can see them through, it is important that you teach them about the risks of student loan overload after they graduate.