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The Free Financial Advisor

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Small Habits that Save You Big Bucks

March 22, 2022 by Erin H. Leave a Comment

In the long run, adjusting your small every day habits can save a lot of money. Unnecessary expenses do add up faster than you may realize and make a significant dent in your finances over time. As the old wisdom goes, even small changes like making your coffee at home and taking it with you instead of purchasing it each day can add up to hundreds of dollars left in your pocket over the space of a year. Here are some simple habits you can get into to save more money.

 

Cut Electricity Use and Expenses

Cutting down on the electricity you use isn’t just a good way to save money, it also helps save the planet. With the cost of power and fuel only going up, developing good habits when it comes to utility use can serve you well for years to come. Make a habit of turning off the lights in each part of the home when you aren’t there or use timers to turn the lights off automatically. Use the heating and cooling as minimally as possible, as changing the temperature inside the home makes the HVAC run more. Install window coverings that help keep the sun out, so the temperature in the home stays stable. For example, aluminum blinds are long-lasting window treatments that come in all sizes to accommodate any window.

 

Minimize Unnecessary Moving

Not everyone can afford to purchase a home, leaving many people with renting a home or apartment as their only option. When you consider what rental property to make your home, try to pick a place that you can see staying in for many years. Staying in the same place will help you save money in the long run. Over 30% of renters move every year, paying the expenses associated with moving and putting out money for new damage and utility deposits.

 

Cancel Subscriptions and Delivery Services

While streaming services, food delivery places, and other subscriptions may seem like they aren’t adding up to much if you add up all of them you might be shocked to see how much it works out to be. Try canceling these services and seeing if you miss them. You might find you don’t use them as much as you thought initially and the money you save can be used for other activities or paying down debts that carry a high-interest rate. If you have services you just can’t bear to live without, see if you can split them with a friend or family member, or use a promo code to save money on the monthly fee. In some cases, once you cancel a monthly subscription, the company will email you a special offer of a reduced price to re-subscribe.

 

Always Look for a Coupon Code

Online purchasing can help you cut down on how much you spend on a purchase in more ways than one. Not only can you easily compare prices for the same product in different stores, but you can also look for promotional deals or coupons to save even more on the item you want. Many retailers offer special deals and coupons via their websites and social media networks like Instagram. According to research done by HootSuite back in 2019, over one billion people use Instagram regularly, and 90% of users follow a business account. Retailers and service providers have noticed this uptick and aim to connect with potential clients via this platform.

Incorporating these small money-saving habits into your life can help you get more money in your savings account, which can be a lifesaver in your unexpected times of need.

Filed Under: Personal Finance

5 Tips for a Worker’s Compensation Case

March 21, 2022 by Erin H. Leave a Comment

Anyone that gets injured at work is entitled to receive workers’ compensation benefits until they’re able to return to work. Follow the tips below to ensure that you don’t get denied what’s rightfully yours in your workers’ compensation case.

1. Get the Names of Witnesses

If you’re in a state to write anything after your injury, it’s advisable to note down all the witnesses who may be present at the time. This will help you pursue your case successfully in case any issues arise. These issues include having to prove that you got injured while at work and not somewhere else. Clearly, this can make a big difference to the outcome of your case because an injury that typically qualifies for worker’s compensation is one that occurs during the scope and course of employment. These injuries could be cumulative trauma or a single event, something that will be detailed in your medical report.

2. Report Your Injury As Soon As Possible

The laws for workers’ compensation require that any work-related injury be reported within a short period of 30 days or fewer when possible. While you may not be legally barred from getting compensation due to failing to report your injury immediately, your claim may be delayed as a result. For this reason, make sure to immediately report any injury you suffer at work to your immediate supervisor, especially if you feel like it may cause you to miss work.

3. Seek Medical Treatment

If you suffer an injury while at work, seek medical treatment immediately. This is because if you delay or don’t go to the doctor after an injury, it may be assumed that you weren’t injured enough to deserve any compensation. If you’re able to take yourself to the emergency room, go immediately or request to be taken if you’re unable to do so. Once you undergo treatment, you will be able to deal effectively with the rest of the procedure.

4. Fill Report Forms Accurately

When you receive your accident report or insurance form, make sure that you fill it out as accurately as possible. If you’re not in a state to do so when it’s presented to you, request to fill it out at a later date. This is important in order for you to make sure that you can concentrate on the task and do it well without omitting any important details and being as clear as possible.

Note down any time and similar information as well as you can remember it, and make sure to be consistent in what you write and what you say to the relevant parties by ensuring to remain truthful. You may be able to get your compensation fast enough to carry on with other activities in your life, such as paying your mortgage.

With the average sales price for condos in existing buildings standing at $1.9 million in the third quarter of 2017, for example, you may have responsibilities that need to be death with without delay. It will be in your best interest to have the case proceed fast and favorably.

5. Talk to a Lawyer

Finally, if you feel like any of the steps in your workers’ compensation case may be complicated or cause issues, you can always talk to a workers compensation attorney. With 87% of consumers, according to recent estimates, reading online reviews for local businesses in 2020, which was an increase of 81% since 2019, you can look for a lawyer online. Go for a lawyer with a proven track record and experience in this field so you can be sure of a fast and successful exercise.

These tips should make it possible for you to get a positive outcome from your workers’ compensation case, so follow them as closely as possible.

Filed Under: Insurance

How Does Past Crime Affect Your Insurance Rates?

March 16, 2022 by Erin H. Leave a Comment

If you want to drive anywhere in the United States, you need insurance. Insurance is a fact of life. You need proof of insurance to drive, you need health insurance, you need life insurance. The list of reasons why you may find you are on a search for insurance is extensive. The search for auto insurance is one of the most searched for items. If you have a felony conviction, you may find that conviction is affecting your insurance rates.

The Cost of a Criminal Record

Most people know that a criminal record can have some serious repercussions. It can affect where you are able to rent an apartment. A criminal record can affect your ability to get a job. A little-known fact is that a criminal record can affect your auto insurance rates. Unfortunately, it is not only felony convictions that will affect your auto insurance rate. A misdemeanor conviction can also affect your rates.

However, not every conviction will affect how much you pay for auto insurance. The type of crime you were convicted of plays a bigger role in whether you can expect to pay more than whether it is a felony conviction or a misdemeanor conviction. In any case, crime truly does not pay when it comes to how much you are going to pay to keep your car legally on the road.

Big Influence On Your Rates Includes These Convictions

At the top of the list of convictions that are going to raise your rates is a DUI conviction. Driving Under the Influence or Driving While Intoxicated convictions make you a high risk to an insurance company, and because of that risk, you are going to have to pay higher rates for a while. However, even in the case of a DUI conviction, the circumstances of the arrest will play a role in exactly how high those rates climb.

If you are pulled for a DUI on the open road after smashing into a few mailboxes and causing property damage, the charge is different from when you are stopped at a DUI checkpoint. About 25% of DUI arrests in California happened in LA County, and many of those arrests were at checkpoints. Being stopped at a checkpoint means that there are no “aggravating” factors.

Underwriters may look more favorably on you if there were no aggravating factors. About 110,400 underwriters in 2018 worked directly with insurance carriers (about 42% overall) to write policies. They are the people that make decisions about your rates.

Less Impactful but Still Has An Effect

There are some misdemeanor convictions that will drive your rates up, including reckless driving, speeding, and fraud. The underwriters will look at the complete picture when they are making decisions about what type of risk you are and then adjust the rates accordingly. There are a lot of convictions that can affect how much you will pay.

There is Hope

It is not all bad news. Insurance rates can vary widely, even with a conviction on your record. You may have to dig a little deeper to find a plan that will fit into your budget, but it is possible to find a plan that will provide you with coverage and stay within the high-end of your budget. It is easy to get your research done online before you make an appointment with an insurance agent. On average, about 48% of people will research for two weeks before they make an appointment.

Another good piece of news is the further away you get from that conviction the lower your rates will go. Time can play a big factor in taking some of the heat off, as long as you do not get into the type of trouble that will affect your rates. Once you have paid your dues and some time has passed, giving you an opportunity to prove yourself, your rates will go way down.

It can be a hassle for a little while to have to pay top dollar to be insured but as time moves forward your rates will come down. You do want to be sure that you search for the right plan as your new plan is getting ready to expire. You may be surprised how much you can save after a year of paying for a policy without having any incidents.

Filed Under: Insurance

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