Advice for Single Mothers

Although many single mothers often seem afraid or shy to seek advice, it is something that they should perhaps consider when it comes to an opportunity for them to further their education. Obviously, for many single mothers, if they could improve their education, they could qualify for a higher paying position and thereby improve their and their children’s lives. On the internet they will find scholarships for single moms advice and when they do they will see that there are far more scholarships available for them than they may have otherwise thought. Of course there are all the regular scholarships that are available for anyone to apply or, which they may have known about and thought that they may not qualify for but, in addition to those there are also scholarships which apply specifically to single mothers.

Scholarships regardless of for who they may apply, are not always full payment for the tuition, some o them are just for parts of the total costs but all of them could make the difference of whether or not a person can afford the further education. Some examples of scholarships and who they are intended for are: The Jeannette Rankin Scholarship Fund which has assisted more than 750 women over the age of 35, to get Associate Degrees by awarding amounts adding up to over $2 million. The Shawn Carter Scholarship Foundation which has also assisted 750 women, this time under the age of 25, with college fees and they have spent $1.7 million in doing so. The James E. “Pete“ Petersen Scholarship is something that single mothers should perhaps specifically look out for as they give preferential consideration to single mother’s applications and they can award as much as $6,000 per applicant.

When looking for scholarships that may apply to them, a single mother should not just look at any that apply in their state as there are many federal government programs which they may be eligible or as well. Some of these are the Supplemental Educational Opportunity Grant program that can award payments of between $100 and $4,000 to assist in education expenses. The Academic Competitiveness Grant which is especially for single mothers that passed secondary school after 2005. The National Science and Mathematics Access to Retail Talent (SMART) is another program that can award single mothers $4,000 and the Teacher Education Assistance for College and Higher Education program can give awards to single mothers that are looking to become teachers.

With all these different programs available, there may well be one which meets the needs of many single mothers and of which a single mother may qualify, especially remembering that some of these scholarships or programs only apply to single mothers. If a single mother is already in employment though, she should perhaps first check with the company she works for to see if they can be of assistance as, a local survey showed that today, 60% of American companies are prepared to assist single mothers with payments towards a better education.

2 Most Common Financial Aid Grants Offered to Single Moms

In today’s high cost of living, raising a family needs a great deal of money. It is also undeniably true that even two-income families sometimes struggle to make both ends meet because the financial demands of raising a family are just too heavy. Raising a family is even much harder for single moms who get to pay everything, from food to housing rent. The government especially knows that not all families can afford everything, so it tries to assist low-income families in the form of giving them some grants so that they can also improve their financial situation. Based on a government grants for single moms review, the government grants some financial assistance programs to single moms who meet the requirements. Below are the most common financial aid grants that the government gives to eligible single moms.

Pell Grants
These grants are given to those individuals who cannot afford to go to college or to get a post-baccalaureate certification on teaching. Undergraduate students who want to get a Bachelor’s degree, but do not have the financial means to do so can avail of this program as well. If you wish to apply for this grant, you must complete the so-called “FAFSA,” which helps the government determine whether you are qualified to receive financial assistance or not. It is your responsibility to prove that you need the financial assistance. Once you are awarded the grant, you can receive it annually until you graduate. The money you will receive will be used for your tuition and other costs related to your education. The biggest amount of grants that the awardees can get is over $5000. The amount actually depends the term of the education program, tuition cost and financial need of the awardees.

FAFSA Grants
The awardees receive the FAFSA grants after completing the so-called “Free Application for Federal Student Aid.” Once it is determined through the FAFSA that they are eligible to receive financial assistance, the awardees then receive two grants: the FSEOG otherwise known as the “Federal Supplemental Educational Opportunity Grant” and the Pell Grant. The FSEOG is under the supervision of the attending university or college, which takes the accounts of the students into consideration, depending on the value of the grant that it receives from the government. It is through the Pell Grants that the awardees receive money. The award or the money is then used for the students’ books, tuition and other expenses related to their college education. To get qualified for these grants, the applicants must prove that they cannot afford the tuition and that they really need financial assistance. Moreover, the awardees must take a part-time or full-time university or college education. However, you must take note that the FSEOG does not apply to all universities or colleges. That is why you must inquire about this beforehand. The awardees who are given the FSEOG grant can receive up to a maximum of $4000, depending on how much funds the university or college institution receives and the financial need of the awardees.

The Road to Retirement

Obviously most people look forward to a time when they can retire, relax at home and only have to go outside to do things that they want to, like take a holiday or make a BBQ. The trouble is though, in order to do that with piece of mind, they have to try and ensure that they have enough funds saved up to secure their retirement and that is not always easy to do. Now however, there is a type of investment fund that is ideal for just this purpose, it is a fund where the member can control what investments are made; how much and in what. It is a fund that will allow them to withdraw some if, after the age of 55, they find themselves just in part time employment but will allow them to withdraw pensions after the retirement age has been reached. These funds are relatively low cost compared to other funds and between 2010 and 2014 increased by a percentage of 12.5 whereas similar funds, during the same period only increased by 9.65%.

These funds are called self managed superannuation funds or smsfs for short and are becoming increasingly popular among those that are trying to take adequate precautions in order to secure their financial security in retirement. Among some of the points that make these finds so attractive, apart from their low costs, are the facts that members control the investments and up to 4 family members can join the same fund, reducing costs even more drastically. Another plus for these fund members is that they are permitted to take out loans for the fund, provided that the loan is used to make investments in properties.

Obviously with any fund, there are regulations concerning the opening of them and also in the way that they are administered and among these regulations is the fact that when several members of a family are in the same fund, only one trustee can be named, after which only the nominated trustee can make investments on behalf of the fund.

This is a reasonable regulation but all the nominated trustees are not always fully conversant with the sometimes complicated requirements imposed on savings funds. For that reason, many people choose to enlist the services of experts in these types of funds.

These experts can be consulted to either just assist in the opening of the fund, ensuring that it is opened as efficiently and cheaply as possible whilst others, opt to pay annual consultation fees which facilitate the experts in assisting the trustee with accounts required for both auditing and tax purposes. If the annual fee is decided on by the members of the fund, these experts can also give the trustee advice ensuring that the investments which they choose to make, are legal and appropriate for these types of funds.

These funds, although they allow members to seek expert advice, still leave the members themselves in the driving seats; making the decisions on exactly which advice they will chose to take.

LEARN EARLY: Learn To Invest or Teach Children How To Do It

Children nowadays ask so many questions that get to their attention. They learn all sort of things just by observing or simply teaching them the ways on how things are done. As they get older, they all get used to it or even want to learn more. In this article, you are going to teach your children to become smart investors. Since most parents hardly have the time to teach everything to their children, at least this one prepares their safe future.

First, you need to try to explain to them what investment is. It’s the money that you have that you can use for business purposes and then get more money in return or twice more than your capital. Since most parents open up savings account to their children and end up giving them when the time comes. I strongly suggest too that you do the same thing if you want to give them a secure future.

Second, teach them how to sell, how to offer services or teach them well at the store you own or you work at. In the eyes of the children, they tend to get along with it and may even understand more of it than you do. Show them how to keep track of the sales, the return of investments and all other things. For more information, you can also watch the following video, thank you.