...All of us face unexpected money problems at one point or another. Whether it’s job loss, an injury or the illness of a loved one. These kind of setbacks can put a damper on even the strongest of financial plans...
But these types of money problems don’t have to last a lifetime.
In this article, we’ll discuss 5 things you can do to fix your money problems so that you can get back on track no matter what comes your way.
How big is your financial problem?
Estimate how much it will cost for you to recover. For example, if you had an injury what would it take to cover your medical costs, plus lost wages during the time it will take to recover. You may not be able to pinpoint the costs down to the cent but it is important to have a clear idea of what resources you need to get through your setback.
Temporarily reduce your expenses.
There’s no easy way to put it. You will likely be a little uncomfortable but the goal here is to reduce your monthly costs to help speed up your process of getting back on stable footing financially. Depending on the size of your money problem, that could be as simple as cutting back on dining out and switching from Cable to Netflix or it could be as drastic as staying with family or downsizing to reduce rental costs.
How can you cover the problem?
Where can you get the money to cover the cost of financial setback you are going through? Can you cover it with your savings? Do you need to borrow from friends and family? Or do you need to use credit to handle it? Each has a negative and positive aspect so be sure to decide which option will fit your circumstances best.
Map your road back.
Based on how you cover the financial difficulty, how can you get back on track? For example, if you got a loan from a friend will you pay them back first? Or will you pay down your debts first? If so which ones? You need to take the time to prioritize where you money should be going so that you don’t have any decisions to make when you get it. Keep in mind, these aren’t permanent decisions so you can shift your focus once you have paid off your first priority.
Rebuild Your Emergency Fund.
The money problems you face in life are guaranteed to hit eventually. It’s inevitable but if you try to stay prepared then you put yourself on the fast track to the road to recovery. Set a goal to dedicate a specific amount of your monthly income to a savings account that is only for emergencies. Then, focus on saving three to six months of your living expenses in that account. This will help you in the event of any future financial setbacks you may face.
I was shocked when I saw it…
It was just in time for Christmas but it definitely wasn’t a “gift” by an sense of the word.
It was a heating bill just about $700!
It was a few years ago and but I’ll never forget the feeling of seeing a huge heating bill in the mail.
And judging from what ENERGY STAR says most households spend on heating, I'm not alone...
So with this article, We’ll go over 8 simple tricks to lower your heating bill in winter.
8 Tricks To Keep Your Heating Bill In Check
8. Buy A Humidifier: A humidifier puts moisture into the air, which also makes it feel warmer.
7. Seal your ducts: Your Duct system loses a lot of the heat it could be delivering due to holes, poor connections and leaks. Reseal your system with foil tape keep the heat from escaping.
6. Heat only were its needed: This one is so simple yet so easy to forget. You can save big simply by shutting the doors and vents in the rooms that you aren’t using.
5. Curtains and Sunlight: Letting in sunlight during the day can ease the pressure of warming your home during the day, just remember to pull the curtains at night to help insulate the windows.
4. Get Smart: A smart thermostat can regulate the temperature of your house throughout the day. You can program it to lower the temperature while you’re away or sleeping to save as much as $180 annually, according to ENERGY STAR.
3. Push Hot Air Down: Did you know that a ceiling fan spinning clockwise can help push the warm air down and pull the cold air up to the ceiling? Try this one next get more use out of the heat you already use.
2. Weather stripping: Putting weather stripping and plastic film on your windows and doors can cut down your home’s heat loss by up to 12%
1. Fine tune your furnace: Change those filters and get an inspection for your furnace to ensure that your furnace is running smoothly, which can also help reduce the cost of heating.
Try these hacks if you want to save on your heating costs this winter.
The last thing you need when filing an insurance claim is poor customer service
All insurance policies - and companies - are not created equal. While most insurers are similar when it comes to a very basic level of protection that is regulated by your state, those same policies can have dramatic differences in terms of features as well as the level of customer service you should expect should you have a claim. Those qualities are what actually set apart one insurance provider from another.
Know Your Insurance Companies Reputation
A commonly misleading belief is that insurance is a commodity, it’s all the same thing. What is wrong with that belief is that it sets you, the policy holder, up to buy based on one sole factor…
The insurance rates!
As a result, you can find plenty of review sites bashing insurance companies based on the fact that the customer felt like they received very poor service after filing a claim.
That’s when most policyholders wise up to the fact that they would rather pay a little more for a better customer service experience during a claim than to pay less to own a policy that will end up giving them horrible service during the claim process and then dropping them immediately afterward.
What About Discounts?
While the reputation of the company you do business with is of the utmost importance, no many people will hope in line to pay more than they have to for coverage. What’s more beneficial to the majority of people is the discounts from having multiple policies.
Having home or renters insurance bundled with auto is one of the best ways to get the most out of your policies. Even better still, multi-car with anti theft bundled with home or renters insurance.
The rates can be even better for business owners with multiple policies.
“We were flabbergasted! You saved us near $20,000 a year in premium, with the same coverage. Hats off!!?"
Getting The Value You Pay For
Everyone wants to save on insurance. It’s a no brainer. Ultimately, what is more important is getting what you are actually paying for, which is a company that will be there for you when all the chips are down.
You really want to go to a company where you feel comfortable that they’re going to give you the best advice and the right coverage, then you want to worry about the cost of insurance when you are getting a quote.
The last thing you want to do is sign on for a policy that ends up costing you a lot more because the company isn’t financially stable, or chose not to be helpful in your time of need.
At Ferguson Insurance Center, we put customer service first to make sure that you get the most out of your policies from day 1. And if you ever need to file a claim, we are their for you to help you every step of the way.
Join over 1,800 wise policyholders by getting a quote from Ferguson Insurance Center today. We work with over 30 insurers to find the right coverage for you at the lowest rates.
There are many people receiving calls since Thanksgiving and it isn’t to spread Holiday cheer. Scammers are doing everything they can to part their unsuspecting victims from their money before its all spent on presents.
Scammers are using the internet, phone, email and any other means of contact to get as much money as they can from people like us.
Even Payless Shoes got in on the holiday scams this year… Just watch
All jokes aside, you need to protect yourself from what may be the most high tech scammers throughout our history.
Here is a list of a few of the latest Christmas Scams Trends to keep an eye out for.
1. The Secret Sister:
This scam is trending on Facebook because it asks people to give a little to receive a lot. The scam asks for $10 in that goes to donating a gift and in return the donation maker is told they will receive up to 36 gifts..
2. Christmas Parcel Delivery Scam: This scam comes in the form of emails pretending to be from a post office. When you click the link in the email you download software that gives your computer a virus and leaves your personal information vulnerable to hackers.
3. Jury Duty Scam: This scam is run by threatening jail time for missing jury duty if a fine isn’t paid… with a gift card bought from the nearest Walmart!
4. The Robo-Scammer: This is a call from a robo-dialer that claims that you have a warrant out for your arrest if you don’t call them back. That is when the trap is sprung.
As you can see, all of these scams only work if you allow yourself to be overcome with fear or greed. If you can stay in control of your emotions, you stand a great chance at beating these scammers and keeping yourself safe during the holiday season.
However, if you should fall victim to a scam be sure to call the police immediately after you become suspicious of the scam. Also, some types of scams may be covered under your homeowners insurance policy so be sure to call your insurance pro to find out if anything can be done to get your hard earned money back.