Answering Personal Finance Questions - Essay Example

What time is their regular clearing of checks? In addition, pertinent to the type of institution, prospective depositors need to research the type pertinent to either commercial banks, finance companies, or asset management firms and determine the stableness of the organization by asking for the length of time in business; who the owners or major stockholders are; where are their other bank locations; and a preview of their financial performance (which is usually available through online sources).

The number of credit cards that a person should have actually should depend on the person’s requirements and the capacity to pay. If a person needs credit cards for personal use only, then, one card should suffice. If the person needs a credit card for other purposes like to make credit availments for one’s small business, then, another card that could support and sustain the requirements could be availed in addition to the credit card for personal use.

An expense that can reduce one’s tax burden is charitable contributions. According to the IRS (2011), the rules to be considered in cases of charitable contributions are that “charitable contributions are deductible only if you itemize deductions on Form 1040, Schedule A. To be deductible, charitable contributions must be made to qualified organizations. Payments to individuals are never deductible” (IRS, 2011, pars. 1 & 2).