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Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.

Is It Time for a Financial Power of Attorney?

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When it comes to finance. Many people try to put safeguards in place to ensure that everything runs smoothly. However, not everyone has a system in place in case they become incapacitated and are unable to manage their financial lives for a period. Luckily, a financial power of attorney can address that issue. If you’re wondering what a financial power of attorney is and whether it’s time to get one. Here’s what you need to know.

What Is a Financial Power of Attorney?

A financial power of attorney is a formal legal document that gives an appointed person – usually referred to as an attorney-in-fact or agent – permission to manage your finances in specific situations. Often, the document allows the person to handle basic tasks. For instance, depositing checks, paying bills, directing insurance benefits, and similar activities. However, you have complete control over the permissions. Thus, allowing you to pick and choose what you want the person to be able to do.

The goal of a financial power of attorney is to ensure that someone can manage your financial life during an unexpected event. It’s designed to provide you with peace of mind. It will also prevent money-related issues that could occur if no one was able to handle the types of tasks outlined above.

Technically, there are two forms of financial powers of attorney. A general financial power of attorney only applies if you are not incapacitated. Usually, it’s meant to reduce the burden of a person who is struggling to manage all of their financial lives but is still technically able to do so.

With a durable financial power of attorney. The person you select as your agent can make decisions if you’re incapacitated. Although their capabilities end if you pass away. This version is more common for end-of-life planning, as well as addressing certain unexpected situations. This includes such as a sudden incapacitating illness. It can also be used during scheduled events, such as during planned surgeries that involve anesthesia, or to address issues relating to mental decline, such as dementia.

How to Tell If It’s Time

Generally speaking, it’s wise to have a financial power of attorney in place as part of your estate planning endeavors. By getting a durable financial power of attorney in place, you’ll have an agent who can act on your behalf should you become incapable of managing your finances.

Since events like accidents, illnesses, strokes, and other potentially incapacitating issues can occur without notice. Being proactive is best. Regardless of your age or family situation. Having a durable financial power of attorney ensures someone can handle critical tasks either until you recover or until your passing. Which can prevent a range of financial issues.

However, if you’re waiting for a triggering event, preparing to undergo surgery could be one. Since going under anesthesia is risky and there may be decisions that need to be made during the procedure, setting up a durable financial power of attorney before the surgery is wise.

Similarly, if you’re diagnosed with a degenerative condition that will impact your mental capabilities, you’ll want one then as well. Setting it up while you’re of clear mind is always best, as it increases the odds that your chosen agent will be respected once your abilities decline.

Even a medical diagnosis for a hard-to-manage condition could indicate it’s time for a financial power of attorney. For example, while cancer may not directly influence your cognitive abilities, the impact of treatment and the stress of battling the condition could make you forgetful. By appointing an agent to assist you during that time, you have someone who can ensure that something important doesn’t fall through the cracks.

Picking an Agent

Whenever you’re setting up a financial power of attorney, you’ll need to select a person to serve as your agent. The decision is ultimately yours. Ideally, you want to choose someone that you trust to act in your best interest who is also capable of handling the assigned responsibilities above all else.

You aren’t limited to specific relationships with the chosen individual, and you aren’t required to favor one option over another. Depending on your situation, you could choose a spouse, family member, or friend. If the decisions relate to a business you run with another person, selecting a business partner may be wise.

In some cases, you may even want several financial powers of attorney. That way, you can divvy up various tasks between individuals that are best suited to those tasks. For example, you could ensure a spouse can handle your personal finances, while a business partner manages company-related matters.

It’s also important to note that you can change your mind and revoke a financial power of attorney. As a result, if your situation changes and you want to ensure someone can no longer act on your behalf. yYu can do so as long as you’re considered mentally sound. Then, you can select a new agent. Thus, allowing you to adjust your choice whenever necessary.

Have you set up a financial power of attorney before? If so, what prompted you to do so? If not, is there a reason you haven’t moved forward? Share your thoughts in the comments below.

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Anyone Can Become a Millionaire-Here’s How!

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Many people dream of becoming millionaires but assume that it isn’t possible. In reality, practically anyone can get on the path toward a seven-figure nest egg; you just have to use the right approach. If you’re wondering how you could potentially become a millionaire, here’s what you need to do.

Say “No” to Debt

Few things can hold you back from your financial goals quite like debt. A buy-now, pay later attitude comes with consequences. Monthly debt payments will take bites out of your budget. Additionally, you spend far more overall for the things you buy if you aren’t repaying your debt right away. That’s money you could be using to improve your financial standing essentially slipping through your fingers.

If you’re hoping to become a millionaire, saying “no” to debt is essential. Instead, focus on only purchasing essentials, saving for what you want to buy, and maintaining things you own. That way, you can focus more of your money toward your goals.

Start Investing

Gathering up a seven-figure nest egg doesn’t mean you have to save a full one million dollars. Instead, you need to set aside as much as possible using an approach that lets your money grow.

By investing early and regularly, you get to take advantage of compound interest and long-term gains. With compound interest, the interest you earn also starts earning interesting, helping even modest deposits grow.

Other types of earnings can also help. For example, reinvested dividends can boost your balance, adding a bit of something extra while you continue making deposits. Even stock value increases matter, as that’s money you make without increasing how much you’re personally saving.

Now, even though your savings can grow, that doesn’t mean you shouldn’t be setting a significant amount aside. While a general rule of thumb is to save 15 percent of your income for retirement, you may want to invest beyond that if you’re hoping to become a millionaire. That way, you can stash away as much as possible, allowing you to get to a balance that makes you happy faster.

Boost Your Income

Since you need to set money aside if you want to become a millionaire, increasing your income is a good idea. That way, you’ll have more cash to stash, allowing you to grow your balance as quickly as possible.

There are several ways to boost your earnings. You could ask for a raise if you’re exceeding expectations at work or seek out a new job where you’re paid fairly for your contributions. Volunteering for overtime is an option, as well as getting a second job or launching a side hustle.

Acquiring new skills that let you qualify for a better-paying position should also be on the table. While heading back to school could potentially help, there are alternatives. Internships, apprenticeships, and other forms of on-the-job training could do the trick. Going online and using free resources may also work.

Stave Off Lifestyle Creep

One issue with boosting your income and savings is staving off lifestyle creep. If you start thinking that luxuries are suddenly affordable, you may forgo savings and start spending instead. As a result, you may not have enough set aside to reach a $1 million balance.

If you increase your income and start thinking about moving to a new home, buying a new car, or something similar, pause for a moment. Consider whether what you’re contemplating is based on needs or wants.

If what you’re thinking about doing is a legitimate need, then moving forward may be okay. However, you want to do it as frugally as possible, ensuring you don’t end up spending more than necessary to cover that requirement.

However, if it’s a want, remind yourself about your dream of being a millionaire. That way, you can focus on your goal.

Do you have any other tips that can help someone work their way toward becoming a millionaire? Share your thoughts in the comments below.

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Should You Be Investing in Shiba Inu?

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During the past year, cryptocurrencies like Bitcoin and Ethereum have reached new heights. Additionally, Dogecoin – the most prominent meme coin around – garnered a lot of attention, ultimately having a relatively tumultuous year. Due to Dogecoin’s rise into the spotlight, many wonder if Shiba Inu – a newer coin – is a worthwhile investment. If you’re considering purchasing Shiba Inu, here’s what you need to know.

A Word About Cryptocurrency

Before worrying about whether Shiba Inu is worth investing in specifically, it’s important to understand the risks involved in putting money into any cryptocurrency. While Bitcoin and some other older coins have seen values rise, the overall crypto market is incredibly volatile. Values rise and fall rapidly, at times with seemingly very little reason for the change. As a result, money can be made or lost in mere moments, often without much warning.

Additionally, it isn’t clear how future regulations may impact the market. Since long-term investing is often based on the desire for long-term growth, changes to laws could significantly alter the viability of cryptocurrency as an investment.

Finally, cryptocurrency scams are commonplace. While Shiba Inu isn’t necessarily a scam, it’s crucial to take any new coin with a grain of salt. Without some due diligence, the odds of making a mistake go up dramatically, potentially causing significant losses.

The Pros and Cons of Shiba Inu

The Pros

One of the points Shiba Inu has going in its favor is a sense of likability. The meme-based coin has an edge on the branding front, making it feel grassroots and accessible. That perception can make Shiba Inu more attractive to certain investors, potentially boosting its potential.

Shiba Inu is also part of Shibaswap, a form of peer-to-peer-style decentralized exchange that gives investors the ability to trade a select number of coins without a traditional platform. With Shibaswap, generating yield and tracking returns are possible, leading some to take great interest in the coin.

The Cons

On the downside, Shiba Inu is technically a Dogecoin parody. Some of its popularity is placed purely on investors who appreciate meme culture and not necessarily because the coin has any real value or long-term potential. As a result, interest in Shiba Inu can be a bit fickle, ebbing and flowing quickly.

Additionally, some of the interest in Shiba Inu is based primarily on familiarity. Some investors attempted to get Shiba Inu added to Robinhood, leading to some media attention that caused a value increase. However, that coverage had nothing to do with the merits of the coin.

Unlike Bitcoin, Shiba Inu currently has no meaningful applications outside of the investment space. Mainstream companies don’t allow shoppers to use the coin as payment. Additionally, since there is nothing functionally unique about Shiba Inu, the likelihood companies will choose it as a payment option over others is slim.

Shiba Inu also isn’t in short supply. Part of Bitcoin’s appeal was that the number available is relatively small. With Shiba Inu, there are one quadrillion coins, so it doesn’t have a sense of scarcity on its side.

Finally, there has been a lot of volatility surrounding Shiba Inu. Most investors are only holding the coin for weeks, indicating that many don’t view it as a long-term investment. As a result, there’s a good chance many will move away from the coin rapidly if something else catches their attention, potentially leading to significant value declines in a short period.

Should You Be Investing in Shiba Inu?

In the end, determining whether any particular cryptocurrency is going to be a success is challenging at best. Shiba Inu does have a few things going for it, particularly when it comes to widespread recognition and its meme-friendly positioning. Plus, while it isn’t a standout functionally, it operates like many other coins, so it isn’t falling behind when it comes to use potential.

However, companies aren’t actively behind Shiba Inu as a payment mechanism, and some platforms like Robinhood aren’t supporting Shiba Inu trading at this time. That could hold back the coin, essentially limiting its potential.

Additionally, the large supply of Shiba Inu coins prevents a sense of scarcity. As a result, prices may not reach the same heights as options like Bitcoin, which doesn’t necessarily work in investors’ favor.

Inherently Higher Risk

Finally, cryptocurrency is inherently higher risk than many investment alternatives. New coins regularly emerge, drawing attention away from those that were trending in the past. Even without those, the sheer number available means there isn’t any way to determine which ones will gain broader traction outside of the crypto investing sphere. Until companies start welcoming more as a form of payment, it’s incredibly difficult to figure out which will rise and which will fall.

Ultimately, only you can decide if Shiba Inu is worth buying. Check out how to buy SHIB in Canada. If you do your research and are comfortable with the risks, then adding it to your portfolio shouldn’t automatically be off the table. You’ll simply want to figure out what’s right for you. That way, if you move forward, you’ll know what could potentially occur.

Do you think investing in Shiba Inu is a good move? Have you already bought in and want to tell others about your experience? Share your thoughts in the comments below.

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Can Public.com Help You Build The Best Stock Portfolio For Your Goals?

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Today, investing is often viewed as a pathway toward financial stability and long-term monetary growth. However, it hasn’t always felt like an accessible option. At Public.com, the company sees things differently. Not only does it strive to make investing something nearly anyone can do. Public.com also aims to help investors make wiser choices. If you’re wondering if Public.com can help you build the best stock portfolio for your goals. Here’s what you need to know.

What Is Public.com?

Public.com – formerly Matador – was founded in 2017. It’s a trading app that allows investors to access stock and ETFs using a fractional share approach. People can buy portions of a stock or ETF instead of entire shares. Thus, making it possible to invest as little as $1 at a time.

Like many similar online brokers and trading apps, Public.com is commission-free. Additionally, there are no account minimums or monthly fees.

However, unlike other brokers, Public.com doesn’t earn money using payment for order flow. Which is a somewhat controversial practice that’s recently been targeted by legislators and scrutinized by the SEC. Instead, it relies on a tipping feature. Users can decide to give Public.com a tip after they execute a trade. Thereby, leaving investors in full control.

Public.com also includes a social feature. Portfolios on the site are public. This way other users can see the activities of all member investors. Additionally, they can communicate with each other. Chat groups are available that can help investors learn more about why various members made certain trade decisions. Plus, it’s possible to create new chat groups to have discussions with family members, friends, or other community members.

Most of the social information is displayed using a social media feed-based approach, making it highly familiar. Along with member posts, the feed showcases information about companies, recent IPOs, and more.

What You Can Invest in on Public.com?

Public.com allows members to invest in a range of stocks and ETFs. Whether investors want a piece of a publicly-traded company or prefer the ETF approach for at least a bit of inherent diversification, they have options. Plus, investors can purchase fractional shares to get started, allowing them to snag a piece of their preferred investment vehicle for as little as $1.

Additionally, Public.com offers some crypto assets. For people interested in crypto, this can make investing simpler by centralizing all of their activity, keeping it on a single platform.

Unique Public.com Features

Aside from the tipped-based financial model and the highly social information sharing strategy, Public.com has some unique features.

For example, members can organize their portfolios visually, separating out their long-term investments from the rest. Once a stock or ETF is in the long-term category, if a user attempts to trade it within one year of acquisition, they’ll get a reminder that their original plan was to hold it longer.

Additionally, Public.com makes learning easy. When viewing an investment option, users can tap on key terms to see a definition. It’s a straightforward way to broaden investing-related vocabulary, ensuring users fully understand what each piece of information means.

Finally, Public.com offers more customer support contact options that you see on many other platforms. Users can use a chat feature to get assistance from a real team member, not just a bot. There are also six other contact methods available, giving users the ability to choose how they want to communicate with a company representative.

Can Public.com Help You Build the Best Stock Portfolio for Your Goals?

Ultimately, Public.com is a robust platform for investors looking for an affordable option for purchasing stocks, ETFs, and crypto-assets. The tip-based approach means the app isn’t a part of the payment for order flow controversy. Additionally, it leaves investors in control, allowing them to contribute as much or as little to the company financially as they choose.

The social approach is also intriguing. While there is no guarantee that advice given by anyone on the platform is sound, it is an interesting way to learn more about investing. Plus, it can make trading feel less intimidating or confusing as there is a large community that’s willing to speak with other members to answer questions or simply talk about their decisions.

Additionally, while Public.com isn’t the only place offering fractional shares, the fact that it’s available works in its favor. Being able to invest with as little as $1 is an attractive option for anyone just starting out, particularly those without a ton of income to direct towards investments.

If you’re looking for a commission-free, no-fee platform that supports fractional shares and would appreciate the social elements, Public.com is definitely worth considering. Just keep in mind that any advice shared by users should always be taken with a grain of salt and that doing your own research is still a must. That way, you can make choices that are ultimately best for you.

Have you used Public.com? Did it help you build a better stock portfolio? Share your thoughts in the comments below.

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Here Are The Best Digital Nomad Jobs

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For many people, the idea of being a digital nomad is incredibly enticing. The ability to travel the world while maintaining an income seems like a dream come true, creating opportunities to explore a wide range of countries with limited financial risk. If you’d like that kind of lifestyle, here’s a look at the best digital nomad jobs that you may want to consider.

Social Media Manager or Marketer

Social media-oriented professionals often have a significant amount of flexibility. Plus, making the position fully remote is simple since most of the tasks involve computers, smartphones, and internet-based services.

Your main responsibilities involve overseeing a company or individual’s social media presence. You might create and schedule posts, develop ads, and engage with commenters. Market research can also be part of the job, as well as A/B ad testing and similar traffic-, sales-, or follower-boosting activities.

Software Developer

Working as a remote software developer could be your ticket to a digital nomad lifestyle if you have strong coding skills. Thanks to cloud technology, remote desktop connections, and similar services, this kind of work can be done from nearly anywhere.

Plus, since the demand for software developers far outpaces supply, more companies are open to remote arrangements. Whether you want a full-time job or to freelance, you probably won’t have much trouble finding opportunities.

Virtual Assistant

Whether you’ve previously worked as an administrative assistant or simply have the skills for the job, becoming a virtual assistant could work perfectly if you want to be a digital nomad. Filipino virtual assistants, for example, have gained popularity for their proficiency and adaptability in this role. The work is similar to its office-based counterpart. They organize schedules, answer emails, make travel arrangements, handle research, and tackle similar kinds of tasks. The main difference is virtual assistants never have to report to an office.

The only thing you may need to keep in mind is time zones. While some virtual assistant jobs are highly flexible, others do have set hours. So, keep that in mind as you’re exploring your options.

Writer

Writing is a highly flexible position that lends itself well to a digital nomad lifestyle. Whether you launch your own blog or create posts for someone else’s – either with a byline or as a ghostwriter – you can typically handle the work from anywhere. The same goes for copywriting, technical writing, and other specialized niches.

Another benefit of this option is you might be able to do a decent amount of the work offline. However, you’ll need access to the internet for research, sending in deliverables, or posting pieces on blogs, so keep that in mind.

Customer Support Rep

While customer support reps used to work mainly in contact centers, these positions are increasingly becoming remote-friendly. With the right computer software and a strong internet connection, you can engage with customers over the phone, through chat messengers, or via email.

Do keep in mind that some companies have technology requirements, like making hard-wired internet connections mandatory. Before you apply to a company, see if you can meet their technology requirements while on the road. That way, you end up in the best position for your digital nomad lifestyle.

Video Editor

Video content is increasingly popular on social media. As a result, companies and individuals may hire remote video editors to ensure their posts are high-quality. That makes this a great option for digital nomads.

In many cases, you don’t need an internet connection the entire time you’re working. Instead, you’ll need it to download the original footage and to upload the completed video when it’s ready. During the time you’re editing, working offline is usually fine.

Just understand that video files can be quite large. As a result, you’ll want a strong connection whenever you need to upload or download. That way, you can capture the full file without getting disconnected and in a reasonable amount of time.

Can you think of any other fantastic digital nomad jobs? Have you tried one of the jobs above and want to talk about your experience? Share your thoughts in the comments below.

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What Are The Most Expensive Cars to Maintain?

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When you are buying a vehicle, the purchase price isn’t the only cost that should be on your mind. Maintenance expenses also need to be a main consideration. If it takes a large financial investment to keep a car running properly, you may discover that a car you thought you could afford is actually a budget buster. By understanding which cars are the most expensive to maintain, you can avoid that issue. Here’s a look at some of the costliest vehicles to keep on the road.

BMW X1 / BMW X2

Luxury brands tend to come with higher price tags, and not just at the time of purchase. BMW X1 owners typically spend close to $17,700 over the course of 10 years just on maintenance. Considering that a new X1 usually costs around $40,000, that’s a lot of extra money to put toward the vehicle.

Still, the X1 does have a great reputation when it comes to comfort and style. As a result, some people may feel it’s worth the investment.

The BMW X2 is in an incredibly similar position to the X1. It has a purchase price of a bit less than $44,000 on average. However, its 10-year maintenance cost comes in just a bit under $17,800, putting it more than $2,000 above similar vehicles in its category.

Mercedes Benz GLA Class

Another vehicle on the luxury side of the spectrum, taking care of a Mercedes Benz GLA Class is far from cheap. Usually, it’s because parts costs can be particularly high. Additionally, there can be some specialty servicing in the equation that pushes the price up.

Still, spending nearly $14,000 in maintenance over the course of 10 years is a big ask. That’s especially true since the car costs just a bit more than $35,000 new in most cases.

Nissan Murano

Originally launched in 2003, the Nissan Murano breaks the mold when it comes to maintenance costs. While a typical Nissan has upkeep expenses close to $7,600 over the course of 10 years, the Murano comes in closer to $14,700. Considering Nissan isn’t classified a luxury manufacturer and the Murano has an MSRP starting near $33,000, that’s pretty spendy to keep the vehicle on the road.

Audi A4 Quatro

The Audi A4 is considered an entry-level model for the manufacturer, giving those who want to take their first step into the luxury vehicle segment a relatively affordable place to begin. With a starting MSRP of close to $40,000, most wouldn’t assume the car would cost around $12,800 to maintain for 10 years.

The total maintenance cost just slightly outdoes the brand average, which comes in at $12,400. However, since the sales price of the A4 is lower than essentially every other Audi, it could make the entry-level model unaffordable for some.

Mazda 6

Generally speaking, Mazda vehicles are known for having quite a bit of pep in their step. The Mazda 6 is one of the manufacturer’s sedans, offering a pretty sporty experience in a somewhat unassuming form factor. However, the performance comes with a high price tag.

When the starting MSRP for a Mazda 6 is under $25,000, its 10-year maintenance costs run close to $12,700. Considering that the average 10-year maintenance cost for the brand is just $7,500, that could easily catch new Mazda 6 owners off guard.

Do you know of any other cars that are expensive to maintain? Do you own one of the vehicles above and have a firsthand account of the maintenance costs? Share your thoughts in the comments below.

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How Can I Get Rid of Wells Fargo PMI on My Home Loan?

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how can i get rid of wells fargo pmi

If you purchased a home with a down payment of less than 20 percent, there’s a good chance you have private mortgage insurance (PMI) wrapped into your Wells Fargo mortgage payment. While it’s easy to assume that you have to pay that extra amount until you pay off your loan, that isn’t the case. Instead, you can get rid of it if you meet certain criteria. So, if you want to know how to get rid of Wells Fargo PMI on your home loan, here’s how to go about it.

Getting Your PMI Canceled on Your Wells Fargo Home Loan

Removing the PMI from your Wells Fargo mortgage is incredibly straightforward. Once you achieve an 80 percent loan-to-value based on the original value of the property at the time of purchase, you can initiate the removal process.

First, you need to make sure that you haven’t had any 30-day late payments within the past 12 months, as well as no 60-day late payments within the past 24 months. Both of those are firm eligibility criteria, so you’ll want to make sure you qualify on both of those points. If so, you can request the removal of your PMI to initiate the cancelation process.

After requesting the cancelation of the PMI, you’ll coordinate with Wells Fargo to get your home appraised. This ensures that the value of your house hasn’t declined since the original loan was issued.

The cost of the appraisal is your responsibility, and it usually runs a few hundred dollars. As a result, you’ll want to make sure you have those funds available before you begin the process. If the appraisal comes through in your favor, the PMI removal will move forward.

It’s important to note that Wells Fargo will automatically cancel your PMI if you achieve a loan-to-value ratio of 78 percent as long as you remain current on your mortgage. If paying for an appraisal isn’t an option at an 80 percent loan-to-value ratio, this could allow you to get rid of PMI without that out-of-pocket expense.

Additionally, if your home value increases enough, you may be able to remove PMI before you reach an 80 percent loan-to-value figure with a new appraisal. However, that option isn’t universally available. As a result, you’ll need to contact Wells Fargo to see if you can go that route.

Alternatives to Canceling Your Wells Fargo PMI on Your Mortgage

While you can use the Wells Fargo PMI cancelation process above, that isn’t your only option for removing your PMI. If your mortgage balance is 80 percent or less than the current value of your home, refinancing could also work.

When you refinance, you’re initiating a new loan. As a result, the original value that’s used for the loan-to-value ratio would change, usually based on a fresh appraisal.

With this approach, you could potentially stay with Wells Fargo as a lender. However, you could also explore other companies if they may be able to offer you better terms.

If you go this route, the process is more involved. While removing PMI using the method above doesn’t require income verification or credit checks, a refinance does. As a result, your financial situation and credit score will impact your eligibility and interest rate.

Additionally, by applying, you may see a temporary decline in your credit score. Similarly, if you move forward with the refinance, your credit score may also change.

A Higher Credit Score May Help

However, if your credit score is higher than when you originally secured your mortgage, this approach may work in your favor. You might be able to get rid of PMI and get a lower interest rate, resulting in a lower payment than your current one. Additionally, if you choose a longer repayment term, that could shrink your monthly payment even more.

Just keep in mind that extending your repayment term could mean paying more interest over the life of your loan than you would have previously. As a result, you may want to use a mortgage calculator to compare your various options, allowing you to select a path that works best for you in both the short and long term.

Have you ever had PMI on a Wells Fargo home loan? Were you able to get it removed? If so, what approach did you use? Share your thoughts in the comments below.

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What Are the Best Bill Payment Reminder Apps?

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For most people, paying bills is an inescapable part of life. Luckily, by using the right bill payment reminder app, you can keep your financial life on target with greater ease. If you’re wondering why you should use a bill payment reminder app and would like to find out apps are the best, here’s what you need to know.

Why Use a Bill Payment Reminder App

Usually, as long as you stay on track with your bill obligations, your financial life runs reasonably smoothly. However, if you miss even one payment, things can get hectic.

After you miss a debt payment, you might end up with late fees, and your credit score might take a hit. In some cases, it could even cause an account to go to collections, an event that can have a massive impact on your life.

For other bills – like utilities and vehicle insurance – a missed payment can also come with late fees. For utilities, falling behind might lead to shutoffs. With insurance, policy cancelations could occur.

With housing-related bills, including mortgages and rent, missing too many payments can cost you your home. Defaulting on a mortgage or breaking the terms of your lease with non-payment can lead to eviction.

With a bill payment reminder app, you can decrease your chances of falling behind on payments. Not only will you avoid late fees and preserve your credit score, but you can also ensure that your utilities stay on and your insurance remains intact. Plus, you can make sure that you’ll always have a roof over your head, giving you more peace of mind.

The Best Bill Payment Reminder Apps

Mint

In the world of personal finance and budgeting, Mint is a leading app. It lets you track your spending, set budgets, and schedule bill payment reminders, ensuring you’ll know what you need to pay and when.

With Mint, you do have the option of connecting a variety of accounts directly. That centralizes and automates at least part of your tracking, simplifying your financial life significantly. Plus, it’s simple to use and attractive, making it a pleasure to work with over time.

Mint is available for Android and iOS.

YNAB

Another option for getting solid insights into your financial life and taking control of your bills and budget, YNAB is a strong option for anyone who wants to get (and stay) on target. It has a user-friendly design and a robust feature set, including bill payment reminders, bank account syncing, debt paydown tools, and more.

You can find YNAB for both Android and iOS. While YNAB does come with a cost, you can try it for free to see if it meets your needs.

Wallet

With budget-tracking and financial account syncing features, Wallet is a solid choice for anyone who wants to get more control over their finances. It’s a great option for keeping an eye on your bills from a single location, making it easier to maintain a good payment history. Plus, you can set reminders, ensuring you’re alerted to make the payment before the bill is due.

Overall, the interface is clean and attractive. Plus, the app is user-friendly, making even more advanced features simple for those who aren’t as tech-savvy.

Wallet is available for both Android and iOS.

Prism

Another standout option for tracking bills and setting reminders is Prism. Plus, it has other personal finance tools and features, allowing you to get a grip on your budget with greater ease.

The interface is clean and streamlined, and the app is easy to use overall. Plus, you can connect directly to your bank and bill accounts, allowing you to use the integrated bill pay feature to tackle your paying your bills all from a single app.

Prism is available for both Android and iOS.

Fudget

If you’re looking for a simple way to track your budget and expenses, Fudget could be your answer. It’s incredibly user-friendly, mainly because it’s very streamlined and focused on its main purpose. You can create lists of upcoming expenses, use a drag-and-drop approach to reorder items, and set reminders.

When it comes to the look, there are eight built-in themes, allowing you to choose one that feels right to you. There is also a calendar inside the app, allowing you to do simple calculations without having to access a separate calendar.

Fudget is available for both Android and iOS.

Money Lover

With Money Lover, managing your finances can get easier. It’s a simple solution for tracking expenses and creating budgets, allowing you to make sure that you don’t miss bill payments.

The interface is incredibly clean, and the app is simple to use. While it doesn’t have some of the advanced features you might find in alternatives, if your main goal is to set up bill payment reminders, it could be the right choice for you.

Money lover is available for both Android and iOS.

Monefy

A clean but colorful app for tracking expenses, Monefy is another straightforward option for anyone who wants to get a grip on their spending and track their recurring payments. Plus, the app has a hint of whimsy, making it a joy to open up.

It doesn’t offer bank account or bill syncing, so you do have to enter information in manually. However, that process is incredibly simple, and you get plenty of customization options to make tracking your expenses at a glance even easier.

Monefy is available for both Android and iOS.

Pocket Expense 6

If you’re looking for an option that’s closer to full-feature finance software, Pocket Expense 6 is worth considering. It lets you centralize information from a wide range of accounts, making it easier to track income, expenses, and bill due dates.

For bills, you can set up recurring ones, set up notification reminders, and initiate payments. Beyond that, you can create budgets and explore spending patterns, giving you more insight into your habits.

With this app, there are subscription-related costs. Pocket Expense 6 is available for iOS.

Have you tried any of the bill payment reminder apps above and want to tell others about your experience? Do you use a different bill payment reminder app that people should consider? Share your thoughts in the comments below.

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Here Are The Pros and Cons of Using Bestow

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pros and cons of using Bestow

When you’re looking for term life insurance, the number of options that are available is often overwhelming. However, if you’re looking for a company that doesn’t require medical exams and can provide you with fast coverage, Bestow might be your perfect match. If you are wondering whether Bestow is the best option for you, here’s what you need to know about the company, as well as a look at the pros and cons of using Bestow.

What Is Bestow?

Bestow is a term life insurance policy portal that uses a streamlined online application and algorithm-supported calculations to determine if a partner insurer can extend you coverage. It’s important to note that Bestow currently acts only as an agent or broker, so any coverage you get isn’t technically from Bestow. The company does have plans to become a fully licensed insurer, though it isn’t clear when that’ll occur.

At Bestow, speed and convenience are both priorities, something that may appeal to many prospective customers. However, as with all companies, there can be some drawbacks to going this route.

The Pros of Using Bestow

The main pros of using Bestow are speed and convenience. The application process only takes a few minutes and, since a medical exam is never a requirement, you can wrap everything up in no time. Plus, everything is online, so you can get it all done from the comfort of home.

Another benefit of Bestow is that your coverage – should you decide to purchase it – begins right away. There aren’t any waiting periods or setup delays, giving you immediate peace of mind.

Bestow doesn’t work on commission, so you don’t have to worry about being pressured into a plan that isn’t a good fit. Instead, you’ll get options that are selected for your situation, not the amount of money they generate for the company.

Finally, Bestow works with an A+ rated carrier. While there is a higher rating companies can get (A++), A+ is still incredibly reliable, which can make you feel more confident about moving forward with a longer policy if that’s what you’re after.

The Cons of Using Bestow

As with all term life insurance options, there are some drawbacks to using Bestow. One of the biggest is that coverage is only available up to $1.5 million. While that may sound like a lot, other places do offer policy options far above that mark.

Additionally, Bestow only supports term life insurance. If you’re looking for another kind of coverage, Bestow isn’t designed to meet your needs.

Even if you’re looking for term life, not everyone qualifies for coverage either. While there isn’t a medical exam, you do have to supply some details about your health history, and certain conditions make you ineligible for coverage.

Age restrictions do limit many people’s options, too. While the company does have term lengths as high as 30 years and can supply coverage to people up to 60 years old, that doesn’t mean everyone age 60 and younger has access to 30-year terms.

Instead, for a 30-year policy, you have to be a woman under the age of 41 or a man under the age of 40 and a non-tobacco user. For tobacco users, the age cutoffs are 31 and 30, respectively. The highest age for a 25-year policy is 45, and 20- and 15-year policies are cut off at 50 and 55, respectively. If you’re above the age of 55, a 10-year term is the most you can get.

When it comes to coverage amounts, Bestow isn’t necessarily the most expensive. However, there are more affordable options available.

Is Bestow the Right Option for You?

Generally speaking, Bestow could be a solid place for term life insurance for many people, particularly younger adults who aren’t tobacco users. However, anyone age 60 and under looking for coverage who doesn’t want a cumbersome application process or medical exams should keep Bestow in mind, too.

In the end, getting a quote from Bestow is completely free. As a result, you can find out what coverage options are available to you specifically, all without having to commit. Then, if there’s a plan that meets your needs, you can finalize the purchase, allowing you to have immediate coverage.

If you’re looking for term life insurance and you need it fast, Bestow could be your answer. You can find affordable plans with ease and get instant coverage upon approval, all from the comfort of your home. Head on over to the Bestow website to learn more today.

Can you think of any other pros and cons of Bestow that people should know about? Have you used Bestow and want to discuss your experience? Share your thoughts in the comments below.

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Can You Tell ME the Best Way to Negotiate an ER Bill?

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best way to negotiate an ER Bill

An unexpected trip to the emergency room (ER) usually comes with a pretty high price tag. Whether you have medical insurance or not, the amount you owe could be significant, so much so that fitting it into your budget may be impractical, if not impossible. Luckily, you can negotiate your ER bill, creating an opportunity to reduce what you owe. Here’s a look at the best way to negotiate an ER bill.

Review the Bill for Accuracy

Before you do anything else, you need to take a moment and make sure your ER bill is accurate. Mistakes aren’t as uncommon as you’d think, and when they occur, you may be able to get them removed if you can show that they are incorrect.

If you’re ER bill only shows one total, request an itemized bill from the hospital. That way, you can review each individual charge to see if any might be mistakes. If your itemized list only featuring medical billing codes and not descriptions, there are numerous sites online that let you check them. However, you can also speak with the billing department and ask for the definitions.

If you do find errors, speak with the hospital billing department about the mistakes. Request that they remove or recode those line items and re-submit your bill to your insurance company. That way, you’ll be working with an accurate bill once your new one arrives.

Research Going Rates for Services

Another step you need to take before actively negotiating is to research the going rate for the same services at other hospitals. In some cases, you can secure a lower price by simply pointing out that other facilities charge less as long as you can prove that is the case.

Similarly, if you’re uninsured, researching the rates that insured patients are charged can work in your favor. It lets you determine the fair market price for the services you received and use those as a basis for a cost reduction request.

Gather Up Some Cash

Before you make the call to negotiate, determine how much you could afford to pay in cash right away. Many healthcare facilities offer cash discounts, especially if you can make a substantial lump sum payment right away.

Mainly, cash discounts are offered for two reasons. One, they allow hospitals to avoid credit card fees or similar expenses. Two, they eliminate a lot of administrative work, including issuing you additional bills, handling account maintenance, and following up on your debt.

See if you can gather most of what you owe in cash before the due date on your bill. That way, you have another point to pursue during the negotiation.

Start Asking About Financial Assistance

With all of the information you’ve gathered in hand, it’s time to contact the hospital and begin the negotiation process. Usually, once you have an accurate ER bill in hand, your first step isn’t to focus on the charges themselves when you call the billing department. Instead, you want to ask about financial assistance programs.

All nonprofit hospitals are required to have financial assistance programs for long-income patients. Additionally, the majority of for-profit hospitals have them as well.

Exactly what’s available may vary by state and facility. Additionally, whether or not you qualify may depend on several factors, including your income level, whether you have insurance or Medicare, and more. However, if you are eligible for assistance, your out-of-pocket obligation may shrink substantially, if not disappear entirely.

Continue with the Negotiation

If you don’t qualify for enough financial assistance to make your bill manageable, continue with the negotiation. Present what you know about fair market prices for the services you received as a starting point. See if they are willing to reduce any of the individual charges that aren’t in line with local norms.

If the first person you speak with isn’t able to do anything about pricing, ask to speak with a supervisor. You may have to move a few levels up to get to someone who has the ability to negotiate the costs, so keep asking for the person’s supervisor until you reach the right people.

After that, if you have enough cash to pay most – but not all – of the bill, as about cash discounts. Don’t lead off with how much money you have available. Instead, simply ask if they offer price reductions to people who can pay the majority of the bill in cash all at once.

If the cash discount they offer brings your bill down enough, you can simply arrange to pay it. If you are just barely short of the total price they present, ask if they would take the amount you have available instead. In some cases, if you’re close, they’ll accept. However, this isn’t guaranteed.

Request a Payment Plan

Many hospitals understand that ER bills are hard for patients to manage. As a result, most make payment plans available to patients. Not only are they a way to avoid medical collections while spreading out the repayment process, but they are also usually interest-free.

Speak with the billing department about payment plans and see what they can offer. If the payment size is manageable, you can simply agree to the terms and begin making payments.

However, if you’re experiencing a hardship that makes the payment they presented too difficult to shoulder, be honest about that. Let them know what you can reasonably afford and see if they are willing to accept that amount instead. If they agree, you can move forward with the arrangement.

Get Help from a Patient Advocate

If you’ve spoken with the billing department and still haven’t found a mutually acceptable solution, you may want to connect with a patient advocate. A patient advocate will help you navigate financial assistance programs and negotiate with the healthcare facility, increasing the odds that you can get the bill reduced to a manageable point.

As you look for a patient advocate to assist you, check the credentials of any contenders. Ideally, they need to be certified by a reputable organization, as well as have education or training that’s relevant to your situation. That way, you can rely on their expertise, as well as increase your odds of finding a solution.

Do you have any other tips that can help someone negotiate an ER bill? Share your thoughts in the comments below.

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