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How To Minimize Costs Following A Car Accident

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A car accident can be a traumatic and costly event. Depending on the severity of the crash, it can cause severe harm and/or death. While accidents are unexpected and happen within seconds, the future impact on someone’s life can be a serious emotional and financial strain. No matter how draining an accident can be, it is important that you are proactive to avoid present and future costs.

Seek Hospital Attention

A common mistake that people make is not seeking medical attention following an accident to try to save time or money. The shock and adrenaline running through your body immediately after a car accident can cause you not to realize how badly you have been injured. Injuries can then appear at a later time in the future. These medical costs can be pricey if you have to pay out of your own pocket. Seeing a doctor is well-advised because you will be able to be checked on to determine whether you have been seriously wounded. Additionally, your injuries will be documented, so you will have proof of that injury if you choose to pursue a lawsuit.

Receive Legal Assistance

Legal assistance is always recommended following a car accident. Most attorneys today offer free initial consultations, so you’ll have nothing to lose for simply reaching out to a lawyer to explain what happened. A personal Injury attorney will be able to review exactly what happened and give you their professional opinion on the merits of a potential lawsuit that could compensate you for your incurred expenses.

In the future, a car accident on your driving record will likely raise your insurance premium even if it’s months after a small “fender bender.” If you feel that it was not your fault, you should not have to endure increased costs or the repercussions that follow. Financial repercussions following a car accident can be extremely high, but they can sometimes be alleviated when you get help from a legal professional to advocate for you.

Avoid Social Media

Most people have social media today such as Facebook and Twitter to connect with friends and family. It is easy to share news (good and bad) over these platforms. However, you need to always keep in mind that anything you post on the internet can (and likely will) be viewed by third parties, such as insurance companies that would otherwise compensate you. When you talk about private matters publicly, you risk having your words twisted around, misconstrued, and used against your insurance claim. Although posting on social media has become second nature to many people in 2019, it is smarter to refrain from sharing when it comes to updates that involve legal matters.

Have Good Insurance

Although there are many different auto insurances out there, not all are created the same. You may think you are receiving a good low-cost deal, only to realize that you got what you paid for. On the other hand, you may be paying too much but missing adequate coverage. People usually find out that their insurance isn’t up to par at the worst possible times (unfortunately, when they need their insurance the most -after a car accident). Make sure you review exactly what you’re paying for, what your state’s standards are, and keep in mind that the cheapest insurance isn’t always the best kind.

The Great Debate: Dip Into the Emergency Fund or Take on New Debt?

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Take on new debt

In a “debt freedom” community, it is hard to ever feel good about taking on new debt. I cringe at the idea of adding anything onto our current payments, but an emergency has happened. Now we are finding ourselves wondering, should we bottom out our emergency fund or take on new debt?

Cons of Dipping Into the EF

We recently moved to Atlanta from Charlotte, which costed a bit more than we anticipated. Because we are far from our family and friends, our main goal was to pad our emergency fund and leave it there. If anything happens, we can no longer call someone to come help. We have to rely on ourselves 100 percent.

That being said, after a visit with the dentist, I need all four of my wisdom teeth out. The bottom two are threatening my ability to breathe and the top two are causing my sinuses to swell (it is becoming an emergency). I got antibiotics, which helped the swelling but I need to have oral surgery.

We don’t have health insurance yet from my husband’s new job, and we don’t know if purchasing it will be worth the money honestly. So, for this, I have to pay out of pocket. After doing some research, I realized this will likely cost between $800 and $1,000 (our entire emergency fund).

While I don’t really want to take on new debt, dipping into our emergency fund would make us both pretty uneasy. We’d have nothing to fall back on.

To Take on New Debt or Not…

After chatting with the oral surgeon, I inquired about a possible payment plan. They don’t do anything in-house but I could apply for a Care Credit Card. The words “credit card” send chills up my spine, but if it made it possible for us to have peace of mind, I think it would be worth it.

Now, I have to be approved for the credit (which is up in the air), but if it is paid in full within six months, I’ll pay zero interest. Paying $800-$1,000 in six months will be no issue for us, but adding another thing to pay each month is causing some anxiety.

When it comes down to it, if I’m approved, we will go the payment route, even though it means taking on new debt. Sometimes peace of mind and your health come before your financial goals. We’ll come to terms with that.

Have you had to take on new debt for an emergency? 

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If You Want to Save More in 2019, Try This 12-Week Challenge

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12-week challenge

Saving is a huge part of becoming (and remaining) debt free. If you don’t have an emergency fund things can pop up and cause you to rack up some serious debt. Similarly, you can go into debt buying things if you don’t save money for big events like birthdays and Christmas. But, saving money is hard. Really hard.

Thankfully, the internet has come up with fun, catchy challenges to make you more financially aware and help you save money. After looking at some of the different challenges, I’ve decided to create my own 12-week challenge for savings.

Savings Challenges

About five years ago savings challenges began popping up on the internet. First, it started with the 365-Day Money Challenge. This challenge lasts throughout the year, as the name suggests, and helps you put aside small sums of money each day. The first day starts out with you saving just $0.01.

Next, is the 52-Week Money Challenge. Like the 365-day challenge, it lasts the entire year. However, this challenge ends with a larger amount in savings and focuses on putting money away weekly. The first week, people participating in the challenge put $1 into savings and work their way up to $52 by the end of the year.

Both of these are easy and help people who aren’t so great at managing their money or saving get some cash put away (even if it is only a penny at a time). Many people have been wildly successful at saving this way. So much so that they’ve put other twists on it, like the Bi-Weekly Money Challenge, Reverse 52-Week Money Challenge, and the Mega Money Challenge.

My 12-Week Challenge

For the most part, each of these challenges takes an entire year. If you’re also actively trying to pay off debt it can be overwhelming trying to put money into savings while effectively snowballing what you owe. That’s what got me thinking about a savings challenge with a shorter timeframe: 3 months.

Here is what I got figured out for a 12-week challenge…

  • Week 1: $100 total
  • Week 2: $250 total
  • Week 3: $350 total
  • Week 4: $500 total
  • Week 5: $600 total
  • Week 6: $750 total
  • Week 7: $850 total
  • Week 8: $1,000 total
  • Week 9: $1,150 total
  • Week 10: $1,250 total
  • Week 11: $1,400 total
  • Week 12: $1,550 total

For the first week, we will start by putting $100 into savings. Then, the second week, we will increase our contribution to $150 (making our total savings $250). Throughout the 12 weeks, we will alternate between putting $100 and $150 into savings. The fluctuation will account for the weeks we have “additional” expenses like health/beauty supplies or cleaning items around the house.

We are going to attempt this challenge at the beginning of 2019 and we’d love for you to join us! Comment below and let me know how you plan to attack savings next year!

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Our Savings Challenge Update

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savings challenge

The last personal update I put on the site had a ton of good news and this post won’t be much different. We’ve been tackling our personal savings challenge and getting back on top of bills. All is well!

The New Job

As you know, my other half was out of work from early June until two weeks ago. He started his new job on October 22 and is making a great wage. Also, he gets paid WEEKLY, which will definitely help us budget and save. Until we know how much he will be bringing home each week we aren’t doing any planning around that income.

Our Personal Savings Challenge

That being said, we have started stacking up a little bit of money into our savings account. Right now, it sits at $206.96 and we expect to be able to add money into savings every week on Friday. If that’s the case, we should be able to reach our goal of $1,000 saved in about a month’s time (yay).

A great motivating factor behind this is the fact that once we get this cash saved we won’t have to worry about the next time something happens (because it always does). Instead of racking up more credit card or loan debt, we will have a little money stashed away. This will help further our long-term goal of being debt-free.

Saving $1,000 in a month isn’t possible for everyone though. So, how should you decide what savings challenge or plan is right for your family?

Setting a Savings Goal For Your Family

Start small. If saving $1,000 in about four weeks time seems unmanageable, that’s okay. There are plenty of savings challenges that help people get in the habit of saving. Even if you’re only able to save up pennies a day it stacks up quickly. Consider trying out something like the 365 Day Money Challenge or the 52 Week Money Challenge. Both of these help you save money over the span of a year.

Consider paying off more debt to save. One great way to save money is to pay off debt. For instance, we paid off an account in late October that is saving us $320 per month! We are currently using that to snowball other debt but once we are done snowballing, that cash will go right into the bank.

Be innovative. Saving money doesn’t necessarily mean you are making money and putting it right in the bank. Some people save money by taking on a different kind of challenge. For example, a “no spend” challenge where you don’t spend any money for a certain period of time can help you save. You may also be able to stack up savings by selling things around your home.

November is going to be a great month for our finances and I’m excited to continue to keep you all updated here. What is your financial outlook for the coming month?

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How to Avoid Catastrophic Health Care Costs for Your Parents

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catastrophic health care costs

According to the Kaiser Family Foundation (KFF), “About a quarter (26 percent) of U.S. adults ages 18-64 say they or someone in their household had problems paying or an inability to pay medical bills in the past 12 months. Now think about these same statistics as people age. With age, health care needs and costs tend to increase. This potentially means more personal indebtedness for those with health care issues.

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Meal Prep 101: How To Save A Ton On Groceries

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When it comes to saving money and eating well, one of the best things you can do for your diet is to meal prep. Meal prepping can loosely be defined as making your meals during the weekend or really any day that works for you, and using those meals to eat on for the rest of the week. While it does sound simple, it’s also one of the best ways to save a ton of money on groceries, as well as eat better for the whole family. The United States has a big problem when it comes to obesity, and one of those main reasons is because there is a ton of food out there that is for convenience, but also horrible for our health. If you want to get the most out of your money, you may want to consider preparing your meals. Why pay more for food that’s only going to be bad for you? Step up your meals and save big money on those grocery bills when you start meal prepping.One of the biggest epidemics when it comes to the social problems the United States has is food waste. Although it may seem simple, meal prepping does a lot of things for us. It gives us healthy foods, it’s a great way to save money, and it’s SO much better for the environment. There are so many tons of food wasted in the United States every year, and if you can cut down on that by making your food ahead of time and cooking meals that you know your family will love, but won’t cost an arm and a leg, you’re doing great things for so many people.

The first thing you should do when you want to start meal prepping is to make a list of your favorite foods. It’s a good idea to make foods that you won’t want get too tired of by the end of the week, are relatively easy to make, and are cheap. If you don’t have any meals of your own, there are tons of recipes out there for meal prep recipes for just about any reason you might want it. From weight loss centric, to the most frugal meals, you can pretty much find everything you need when it comes to meal prep meals. If you want to get a leg up, find recipes that your family loves, and are easy to freeze, reheat, and won’t go bad quickly.

Once you have a few recipes that you love, you should go on your shopping trip. Generally, meal prep is a great way for busy people to maintain their schedules and save money on food. If you have all your meals planned out, you won’t be wasting money on ingredients that you won’t use and will go bad. So make sure that when you meal prep you’re getting great items that are nutritious for the whole family. Looking for a place to eat those delicious meals? Save even more when you use this Lexmod coupon for huge savings on dining essentials and more.

Meeting your Biggest Challenges: Facing Financial Dilemmas

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What would you do if an enormous financial dilemma landed at your feet right now? Would you know what to do? A financial crisis can happen at any time, and you’d better be prepared to cope. In the interest of standing up to money disasters with grace, we are pleased to present a few tricks and tips about how to meet your biggest financial challenges.

Biggest money hurdles families face

A recent Gallup report explains that a lack of money is the biggest challenge most families face. These days, and in these uncertain financial times, many American families live beyond their means and carry the debt load to prove it. Granted, there is no instant-fix solution to money woes, but you have to start somewhere, advise money experts at SheKnows magazine.

Build a budget and do not deviate from it. Simplify your lifestyle and learn to do well with less. Pay down debt as soon as you can, mind your monthly bills, and don’t add to your debt load. If bill collectors are dunning you, visit this page to identify their number.

Your new budget applies, whether you are the ‘spender’ or the saver in the family. Money differences can cause trouble, but they don’t have to if you agree to stick to a budget that is beneficial to the whole family. Meeting in the middle and setting realistic expectations is a good way to avoid arguments that add stress to an already dodgy situation.

Avoid overspending

Overspending is another way financial disaster can wreak havoc on your serenity. In a recessive economy, spending too much is asking for trouble, especially if your income is sketchy. Have a heart-to-heart talk with your partner, if you have one, and identify your monthly must-haves vs. luxuries that can wait. Writing this information on paper may make it easier to maintain your new budget.

Parents, you want your kids to avoid the financial dilemmas that plague you, right? Help them be better money managers when you give them a checking account in high school. Open the account with limited funds, and your child will learn the penalties for making overdrafts. This simple lesson in overspending may spare your kid a lot of financial woes when they are older, advises Bank Rate.

What about grown kids who move back home?  Many American families face this financial dilemma today. So-called ‘boomerang’ kids may return to the family nest, but the rules are different now. Adult kids probably shouldn’t expect a free ride, especially if they are able to earn an income and contribute to household expenses. By paying for their own rent, groceries, internet service, car insurance, and other monthly bills, adult kids have a great chance to actually be ‘adult’.

In uncertain financial times, sticking to a budget, living within your means, paying down debt, and supporting adult children can be a challenge. Don’t let money dilemmas daunt you. Face money smartly, and you up your odds of living happily.

How to Save Money in Your Daily Life

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It is easy to see something, want it, and buy it on the spot. However, spending like that will not help your wallet or your future. It is important to realize that there is a big difference between things you need in your day to day life and things that you simply just want. If you tend to be the kind of person that impulsively buys things or is just looking for ways to cut back in their daily lives, then keep reading!

If you want to start organizing your spending the first thing to do is make a list. I know sometimes making lists seems silly or daunting, but in the end they will help. First write out what you buy on a daily and weekly basis. This could be a coffee in the morning, groceries, gas, clothing, etc. Take note of everything and anything. Think about how much you spend each day then figure that into an entire week. Are you spending beyond your means? Are you doing alright but could really be saving more? If you answered yes to one of those then I advise you to plan strategically.

Strategic planning is essential for cutting back in your day to day. Sure no one wants to have to focus on their spending and live a carefree life, but it is necessary. When you are spending money on a coffee and then maybe lunch or dinner you probably do not realize how quickly things add up. The best thing to do is to find substitutions to these habits. Could you make your own coffee in the morning and pour it into a to go cup? Could you bring your own lunch to work? Could you try to find a more gas efficient or energy efficient car? Ask yourself questions like these and you will begin to start changing your lifestyle for the better.

 

For those of you who use your car as your main mode of transportation, I know cutting back on your vehicle can be a bit of a struggle. One idea is to try and find a public transit route. Make use of your smartphone apps that will help you easily navigate your way on buses and trains. Instead of driving every day maybe you could take the bus some days and drive the other days! However, if you car is an absolute necessity, then I suggest trying to find deals and discounts on cars when you are shopping. Nothing is better than buying something you love than buying it for the best price! If you think finding the right car at the right price is not going to happen, then think again. Cars.com is a great site that allows you to shop through new and used cars right from your home.

Once you are online you will find that cars.com has some great features for those who are shopping for cars or trying to sell their current vehicles. If you are someone that would like to purchase a new or used vehicle then fill some info into the search bar and cars.com will be sure to load some great options in your area. If you want a more narrowed down search, there is even an advanced search option. This way you will be sure to find the absolute perfect vehicle for you! On the other hand, if you are looking to sell your car to make some extra cash, then they can help you with that too. You can either sell your car directly to a dealership or you can create a classified ad. Plus if you have never sold a car before, they will provide you with some helpful tips so you find yourself on the road to success!

Overall saving in your daily life can be easy and requires little to no effort. There are small things you can do that can make a great impact and leave you with more money in the bank. Just a little switch up of your usual routine can go a long way. As long as your are a bit smarter about where and when you spend your money you will be sure to save!

 

More about money:

Make Improvements to Avoid Another Financial Rejection

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If you had your heart set on a new car or buying some real estate but you have been turned down for the finance you need, you must start to think about the reasons for that happening and address them one by one. If you do that, the next time you make a realistic application, you may well succeed.

If you already have a high level of debt, it may be that lenders do not believe that you are capable of making the required repayments. The other main reason why you may have been rejected is your credit score that reflects your financial performance in recent years. Whatever the reason, you need to act so that you have a chance of success next time.

Credit Score

There are three bodies producing details of your history which lenders can refer to when considering your application; Experian, Equifax and TransUnion. They will analyze how promptly you have been paying your bills and whether you have missed any payments. The better your performance, the higher your score and the more competitive the interest rate you may be offered. By law, you are entitled to a copy of each report once a year so you will know how you stand when you apply.

The reports will list your existing debts whether on credit cards or other loans. If you have any judgements against you, you can expect to see them included as well.

There is seven years of history though bankruptcy lasts for 10 years. You should not assume that there are no mistakes in your reports. Look at them closely just in case.

Pay On Time

After rejection, you must ensure that you never miss any payments in the future; gradually, your credit score will improve if there are no negative entries going into your records in the future. Your score is made up of a number of elements and your payment history represents 35% of it. It will not happen overnight but your score will start to rise once you are paying on time.

Reduce Your Debts

Lenders will look at the ratio of your debt against your income and the credit you currently have available. As a guide, you should try to ensure that you are not paying much more than 40% of your monthly income on existing loans for bad credit and any you are applying for. You can work that out for yourself to see whether a lender is likely to approve your application.

Where you have too much debt you need to look at things. One debt that many in the USA carry is a credit card balance. That is expensive debt that ideally you should pay off; take a personal loan at a lower rate to do that but don’t then rebuild a balance.

What you should not do is close the account because if you have access to the credit but do not use it, that is very much a plus point for your credit score. If you have four cards each with $5,000 credit limits and your total balances are $6,000 then the ratio of debt to available credit is 30%, very acceptable. If you closed one of the accounts so that your total was reduced to $15,000, that ratio jumps immediately to 40%. The best scenario is that you have that available credit but you pay off all your statement balances in full when they are due. That way you will look an excellent credit risk to every lender, whether you are looking for a mortgage, auto loan or simple personal loan.

Conclusion

 You cannot repair your credit score overnight so you will have to be patient. When you apply again for money, you should be able to gauge the reaction of lenders to your application if you have worked on your credit score and understand how it is put together.

Paribus Review: Does It Really Save You Money?

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Paribus Review Does It Really Save You Money As more people shop online, price matching and comparing prices seems a little easier. But what happens when an item goes on sale after you’ve purchased it? Paribus will help you get a refund and put that money backinto your pocket.

Sound too good to be true? I thought so too. In the one week that I used Paribus, I shopped online exclusively. Before I get into the nitty gritty, I’ll tell you how much I saved…a whopping $12. Now, this may not seem like much to you, but my Paribus review isn’t just about the money that I’ve saved.

Paribus Explained

So what exactly is Paribus? Paribus is a website and app that monitors your purchases through your email and alerts you when an item that you bought drops in price. In return, they will file a price adjustment on your behalf and give you a refund.

This means the app can be a real way to save money if you primarily shop online. But is it worth it if you don’t?  Let’s discuss the upsides first.

Paribus Review: Pros

What are some pros for Paribus?

Free To Use

Paribus is free to use. They don’t charge you to sign up.  So, there is no financial cost to having the app on your smartphone.

Ease Of Use

I was pleased to see how easy Paribus was to use.  Both the sign up process was easy and the apps interface was smooth and intuitive. All I did was enter in my email. In less than 5 minutes I was ready to save money! The great thing about Paribus is that it basically does all of the work for you.

If you are someone that hates checking for deals, Paribus could become your new best friend. Once it is installed, you don’t have to worry about checking around and trying to find rock bottom prices. Instead, Paribus will check everything on your behalf, and you’ll still the see the savings. Cool, right?

Savings

In my one week of using Paribus, I saved $12. I knew I would be testing out the service for my Paribus review, so I saved all of my purchases for test week. So, I bought an electric hand mixer, a new rocking chair, and a semi-expensive coat to prepare for next winter. I also bought a few household items, as well as pantry staples.

In all, I paid around $250 and saved $12. Considering the fact that I only gave the app a week to work, I’m satisfied with the savings. If I let it continue to monitor my purchases, I should see more savings in the future.

Works Well With Retailers

Besides a slight mishap with Amazon, I was able to use Paribus with just about every retailer! Here are all the stores Paribus works with. The stores are subject to change.

 

Paribus Review: Cons

Despite being easy to use and a proven money saver, Paribus does have some downsides that merit mentioning.

Availability

Paribus is not currently available on Android. I’m an avid Android user. When I first went searching for the Paribus app, I couldn’t find it. Thinking I made a mistake, I did some research online. I found that an app had been released for Android, but was removed by the time I tried to use it.

This is one of the biggest cons in my Paribus review, mainly because I use my phone a lot. I like the idea of having it on my phone and getting notifications when I’ve saved money. The good thing is that I can easily use this app on my computer. If you are an iPhone user, you can get the app for free on the app store.

 

Sign Up Options

If you are wary of giving someone access to your email, Paribus may not be the app for you. The app monitors your receipts by using your email. It then scans the receipts you receive and keeps the items stored so it can know when they drop in price.

Giving Paribus access to my email didn’t bother me at all, but I understand there are some people that are more private about their information, which is why I’m adding this as a con for my Paribus review.

Paribus Review: My Conclusions

So there you have it, my Paribus review! Overall, I think Paribus is an easy way to save some cash on purchases that you make online. As long as you are comfortable sharing your information and can work around the fees, you will enjoy this app!

If you want to sign up for Paribus please use this link. It will help us keep bringing you amazing content on this site. 🙂