This guest post on budgeting is by Ryan Bonaparte, who last wrote for Add-Vodka in 2012 about common financial mistakes that young adults make. Ryan is a long-time writer and author, delving into topics including personal finance, technology, and career pursuits. He lives in the Boston area with his wife and fiercely independent cat.
Budgeting can be an amazing tool.
From the moment you begin to track where you’re spending your hard-earned money, budgeting can help you begin to understand what your habits are, where your priorities lie, and what goals you want to set in place. That’s a powerful place to be in life, as you can move past surviving paycheck to paycheck, and on to building a security net and further wealth.
I often talk to my friends about the power of moving my money away from the things I don’t care about (a bigger house) to the things I do care about (a nicer car). While you can’t have everything because of a budget, you can put budgeting into an action a plan to have anything with a bit of planning and hard work.
But efficiently earning and spending money is not the meaning of life. There are other factors to consider when deciding how to spend your money, and more importantly what to do with your life outside of budgeting. ...continue reading
Choosing a high deductible is a way to save money while fulfilling the legal requirement in many states to have car insurance.
Going from a $500 deductible to a $1,000 one will save 5-10 percent on the premium, or about $15 in monthly savings for the average consumer. Moving three or more cars to a $1,000 deductible could add up to a fair amount of car insurance savings.
The savings could be put away to pay the deductible. Saving about $100 over six months of insurance premium payments can allow some people to pay their bills.
A higher deductible won’t only lead to lower insurance premiums, but to fewer claims filed to keep them low.
There are some things to consider before making such a decision. Here are some of them:
Have $1,000 stashed away?
It would be wise to have the higher deductible amount in a liquidity fund such as a savings account to cover you if you have an accident and have to pay a deductible — which is a specified amount of money an insured person must pay before an insurance company will pay a claim.
Deductible amounts are typically in increments set by each state’s insurance department, often set at $100, $250, $500, and $1,000. The higher the deductible, the lower the insurance premium because the insured is taking on more of the risk. ...continue reading
Whether a divorce is combative or friendly depends a lot on the couple. The cost of getting a divorce is also dependent on how collegial the spouses are, though there are some costs that aren’t going to change no matter how nice they are to each other.
Divorce costs depend on a number of factors. These include where you live, the attorney you hire, the number of issues to resolve and how combative the spouses are, among other things.
Some attorneys or divorce assistance services charge by the hour, while others may charge a flat rate. Usually, the longer a divorce takes to complete, the more money it costs.
Working with a family law attorney can be helpful during a divorce. Even if the divorce is amicable, at attorney can help get through the legal issues more easily and quickly.
Hourly rates are common among attorneys. A typical hourly rate for divorce attorneys is $250. This includes divorce attorneys who provide full representation in a case and handle every issue, down to partial representation such as help with alimony or child custody but not division of property. ...continue reading