Financial Services

Get on the road to financial security using the right financial services

You get to the end of the money before the end of the month, and there will be trouble. Smart use of financial services -- money management, credit cards, insurance and banking -- can make a difference.
Financial services is a catch-all term for any kind money management product, each with its own end. Credit cards have their uses, but proper banking, decent insurance and other financial services, like investment advice, is key.

In this guide to financial services and money management, you'll learn about:

1. Top providers of banking and basic financial services.
2. When money management is the right choice.
3. How to use financial services tools: credit cards, mortgage debt.
4. Advanced financial services, like wealth management.

Financial services 101

National banks are among the largest providers of one-stop shopping for financial services, be it a mortgage, personal loans, credit cards, insurance or plain vanilla banking. Many also do retirement planning financial services, like selling mutual funds.

Paying for money management can make a difference

Your bank can take you a long way, even advise on saving for retirement. But, at some point, financial services has as much or more to do with active investing and tax planning. That's when money management can make a difference.

Use mortgage debt and credit cards to reach your goals

Debt good for you? At certain points of your banking life, absolutely. For instance, credit cards used responsibly can track expenses and provide short-term liquidity for a small business. Mortgage debt, within reason, can turn a renter into a homeowner, and the interest on mortgage debt is normally deductible.

Beyond the basics of financial services

Making money is, for some, the easy part. Keeping it though can be a huge chore. Once your portfolio gets past a certain level (usually $1 million net worth excluding real estate), it's time to look at financial services at another level: wealth management.

Get ahead of your needs. Just because you don't have kids yet, don't rule out life insurance. Who would need money if you died?
Money management can be a huge help. If you find a topic overwhelming it's time for professional financial services advice.
Debt can be a help, but it shouldn't be a crutch. Use financial services, but wisely and within your limits.