Misc. Archives - The Free Financial Advisor

An Update About My Habits

January 15, 2020 by Jacob Sensiba Leave a Comment

Over the past few weeks, I’ve tried implementing habits that would make a positive impact on my life.

In the following article, I’m going to review those habits, what I’ve learned since then, and how I’ve adapted to make them work for me.

What I was doing

I have to tell you, I wasn’t doing much. I had every intention of exercising, meditating, and journaling.

Exercising took place here and there. I have a pull-up bar in the doorway to my bedroom, so I’d do 5 every time I walked by, but there was nothing consistent.

I didn’t have a regular regimen that I followed.

Honestly, meditation didn’t happen much either. There were two things I did that may or may not count. They had meditative properties, but it wasn’t something I consciously thought of as meditation.

I hung in my inversion table for 5-10 minutes. There was no intention of focusing on the breath or anything like that. I sort of just let my mind wander.

I laid on my “neck tension relief” device for 5 minutes. I was more intentional about keeping a steady breath but wasn’t particular about going back to the breath when my mind wandered.

I journaled very inconsistently. Again, nothing regular.

What I found out

I stink at establishing habits, but I also figured out a system that can work for me. Having a two-year-old makes it a little more challenging, but this goes back to my point about being intentional.

I wanted to exercise, journal, and read in the evening, and meditate in the morning. That schedule didn’t work for me. At the end of the day, I a) didn’t have enough time to fit those things in and b) was too tired to do so.

All of these habits are beneficial; I know they are. However, they all take different shapes and forms, and you need to make adjustments based on what will work best for your personality and your schedule.

What I’m doing now

I made a few adjustments to my schedule and in my practice.

Exercise and meditation take place in the morning – I exercise first, wind down for 5 minutes, and then meditate. Additionally, while I meditate, I have a journaling app open (Journey). If something comes to mind that I would like to explore more, I make a note in that app and then bring my focus back to the breath. Doing both of these activities in the morning holds me accountable and makes sure I get them taken care of. Incorporating the notes provides me with prompts that I can journal on later.
Journaling and reading in the evening – when I journal, I go through my day. I recount the good and the bad and try to find lessons hidden in everything. Once I’ve gone through the day, I go to those prompts I created that morning and write at length about those. After I journal, I read. Typically it’s for 15-20 minutes. It really all depends on how tired I am.

I am very pleased with this new set up, but it’s still new to me, so I will provide an update in about a month for my next “Personal Reflection” piece.

Conclusion

When we set goals and/or set out to make positive changes in our lives, it’s important to stay malleable.

Just because this thing worked for so and so, doesn’t mean it’ll work the same for you. We are all different, so we need to approach habits with the same attitude. Find out what works for you and stick with it, but don’t be afraid to make adjustments as life changes.

A Systematic Approach to Goals

December 25, 2019 by Jacob Sensiba Leave a Comment

With 2020 staring us in the face, it’s time to review goal setting and the systems you can put in place in order to reach those goals.

“A goal without a plan is just a wish.” – Antoine de Saint-Exupery

That said, let’s look at systematic ways to approach goal setting and actionable tools you can use to smash those goals.

How to begin

Large/Lifetime goals – These are things you want to accomplish throughout your life. They can be philanthropic, health, financial, etc. Figure these out first.
Short-term – Now that you have your long-term/lifetime goals determined, you can break them down into shorter-term goals. Consider these stepping stones, and a lot of these will change as you age. For example, your philanthropic goals. There may be causes you care deeply about now, but that can change.
Actionable steps – Once you have your lifetime goals broken down into manageable targets, it’s time to create steps to get there and I’ll illustrate that using the three examples above.
1. Philanthropic – Research causes and charities. Pick the ones you most identify with. Review your budget to find out how much you can give. Do a little more research to find out if your donations are tax-deductible (most, if not all, should be).
2. Health – Establish the specific reason you want to be healthier (for yourself, your partner, your kids, grandkids, etc.). Research a diet that could work for you. Research an exercise regimen that could work for you. Consult experts (i.e. nutritionist and personal trainer).
3. Financial – Create a budget/spending plan. Cut expenses. Save for emergencies. Insure you and your belongings. Save for retirement.

Here are a few articles I’ve written in the past about financial goals:

Worthy Goals For You To Set And Crush

How Do You Set Financial Goals?

Systems

We can think of systems as the sub-category of actionable steps. A routine is another word for it. When it comes to goals and habits, you can’t rely on will power. You have put a plan in place to do the work for you.

Take exercising for example. You need to create low barriers for yourself. Wear your gym clothes to bed or have your bag packed the night before.

If you go to the gym, put your bag and your keys in a place where you have to pass them to get to your car.

If you exercise at home, have your routine and your equipment laid out and ready for you.

Habits

When it comes to creating habits, James Clear, the author of Atomic Habits, likes to break down the habit into bite-sized pieces.

For example, if your saving for a down payment, go to your banking app and transfer $1 from checking to savings every morning (or whatever amount is realistic for you).

When that becomes second nature, bump it up a dollar a day.

Another thing that James says is, “People ask me all of the time, how many days does it take to create a habit? My answer, all of them because if you stop doing it for one day, it’s no longer a habit.”

External versus Internal

This section is speaking specifically to mental health versus other goals. You could also consider physical health as an internal goal, but for this article internal relates to mental health.

There are several things you can do to work on your mental health. See a therapist, exercise, and start a journal. Those three are low-barrier, easy things you can implement into your day to help.

Meditation, medication, and other forms of mindfulness training/practice can also help. There’s a podcast that I listen to regularly called “10% Happier” that will help you with establishing a meditation practice.

Do some research about this. Meditation can and will take many different forms, and not each modality will be right for you. Reading has also proven to have meditative benefits.

Financial Goals

It really is up to the individual as to what they consider, short, medium, and long-term, but my definitions are as follows: Short-term – less than 3 years. Medium-term – 3-15. Long-term – 15+.

My definitions are almost entirely based on the investability of those assets for that specific time period.

Short-term – Emergencies, a new car, what have you. This is money you will need soon, so risking it in the stock market is out of the question. High-yield savings accounts should be your go-to in this scenario.
Medium-term – Things like down payments for a house or sending your kid to college. What you’re saving for will dictate the vehicle that you use. If it’s saving for college, a 529 or a Coverdell ESA should do the trick. If it’s for a down payment, your best bet is usually a taxable brokerage account, as there are no fees for early withdrawal.
Long-term – This should be strictly focused on retirement. Assets should be in a retirement account(s) and invested (investment selection should be based on risk tolerance and time horizon).

Once you’ve established your short, medium, and long-term goals you can break them down into actionable steps as we talked about earlier.

Wrapping it up

Each New Year brings about resolutions that we hope to achieve. Whether it’s getting in shape or paying down debt, your barometer for success should be progress and consistency.

Are you in a better place than you were on January 1st? Do you have more saved? Are you still committed to the goals you set in the first place?

Yes. It feels great to set a target and hit it, but as far as I’m concerned, if you’re better than you were yesterday, that’s all that matters.

Take it one day at a time and keep your eyes on the prize. You got this!

In Tough Times Put Your Head Down and Keep Going

September 11, 2019 by Jacob Sensiba

Since this site is primarily geared towards finances, I wanted to write a reflection about my own personal struggles with financial matters.

I might toss a few other non-finance related items in there as well, but we’ll see.

I’ve been duped

There are two instances that come to mind, where I learned the hard way about investing/handling money.

The first is from early childhood when Pokemon was all the rage. This one day, a kid from the neighborhood wanted to sell me some cards of his. I ran home, opened my piggy bank and took out $5.

I ran back to the kid and bought one card with that $5 bill. I later found out that you can get a big deck of cards for that much. I’d be swindled.

Fast forward several years. I’m in high school now. This infomercial came on with a guy raving about how much money he made using Google search. Specifically, Google Adwords.

All you had to do was pay for the program. Said program would walk you through the steps to setting up a website (I now know the site was to be an affiliated sales rep).

A $90 lesson. But mistakes are made so we can learn from them.

Young and dumb

Before I begin this section, you need to know that I did not know I was going to be a financial advisor, and financial education was limited in my household and was not taught in schools (unfortunately, very common).

That said, I made pretty typical mistakes. Got a credit card, and another, and another. I had spent too much money that I didn’t have and I’m still paying the price for it.

So when I talk about getting out of debt and using a credit card wisely, it’s because I learned first hand the negatives of using it irresponsibly.

More often than not, when individuals make financial mistakes, it’s on the personal finance side of things. Things like saving money, debt management, budgets, etc. Get those things down, the rest takes care of itself.

Budget item

One part of my finances where I continually struggle is my budget. Very specifically, it’s one particular item, and that’s eating out. I am a sucker, no doubt, for restaurants. Whether that’s drive-thru or a sit-down place. It just takes all the hassle out of preparing a meal.

As good as it is sometimes, it’s also costly. My resolution was to actually include restaurant spending on my budget. I gave myself $50 for the month for take-out. This limits how much I actually spend and also scratches my itch for eating food outside of my home.

If there is an item you know you’ll spend money on, put it in your budget.

Related reading: Your Go-To Budget Guide

Personal Reflection

On the more personal side of things, it’s been a pretty challenging year for me. Had a mental health diagnosis that created some hurdles for me to jump through. As I write, I’m still jumping through these hurdles, but I’m starting to see the benefits of doing so.

By hurdles, I’m referring to medications and therapy. As well as things I can do on my own time, like exercise, journaling, and meditation.

Those last three items have been difficult for me to do consistently, but when I actually do them, I feel much better.

Another challenge of mine is that I am in the middle of a divorce. This has been incredibly difficult. It’s caused a lot of anger, sadness, doubt, among many other emotions.

What it did, however, was it forced me to turn the microscope inward and figure out the parts of me I don’t like, the parts of me I do like, and the past experiences that shaped me and the lessons to take away from those experiences to continue to grow.

Reflection Benefits

With all of the battles I’ve fought this year and as taxing as this year has been, it’s also been one of the more life-changing periods in my life.

For me, it was extremely difficult to look inside myself and analyze what makes me, me, but I’m glad I did it. It’s given me a better understanding of who I am, how I function, and what I can do to continue to grow and improve.

It’s given me the tools I never thought I would have. It’s helped me be a better parent. I’ve been able to focus more on the things that matter. And I’ve been able to be more present and limit the amount of forecasting I do for the future. (Don’t worry. On the finance side, I’m still looking ahead).

Takeaway

My advice to you is to just keep moving forward. At times, life is stuff. Navigating your finances can be challenging, but we, as humans, are resilient creatures.

Inexpensive Fall Activities

August 28, 2019 by Jacob Sensiba Leave a Comment

With Fall quickly approaching I thought it’s fitting to write an article about the (inexpensive) activities you can partake in that won’t break the bank.

Below you’ll find a large number of fun things you can do when the leaves start to change.

Go for a hike – Depending on where you go, this can be free! If the hike takes place in a state park, there might be a small fee. Regardless, a hike is a great way to spend time, get exercise, and experience nature.
Pick pumpkins – This is an autumn staple! Go to your local pumpkin patch and pick out your favorite pumpkin. Then figure out what design, pattern, or face you’ll carve into it and go to town!
Have a picnic – Ingredients for sandwiches, potato salad, chips, and a dessert item. What else could you need? Through in an item from below (scenic drive) and a nice spot to set up, and you’re good to go! Inexpensive and relaxing.
Apple orchard – Go apple picking! Gives you a great excuse to go outside, walk, and hand-pick some healthy food for yourself. A typical orchard operation will charge you $1.25-$2.00 per pound.
Local festivals – Most of these are free or cheap to attend, with most of the cost coming from the games and events you participate.
Maze – Many of the fall festivals will have a maze. These are typically made from hay bales. Additionally, farms that have pumpkins to be picked sometimes have a corn maze and/or hayrides. I have one of those near me and it was a ton of fun, and cheap too.
Football games – Local high school games are really exciting to watch. They’re inexpensive to go to, they usually have good food, and you get to show off some hometown pride. Added bonus, you could have a promising player on your team or one on a visiting team to watch. I don’t know about you, but watching a special talent is…well..special!
Haunted house – I’m partial to the scary stuff because I’m into things that frighten me, but haunted houses are awesome. Yes, some are quite lame, but when they’re done right, it’s exhilarating!
Sit around the campfire – This is an incredibly relaxing activity. Sitting around a fire with your family and/or friends, roasting marshmallows, and making smores – can’t get much better. Costs nothing more than marshmallows, graham crackers, and chocolate!
Scenic drive – For me, there aren’t many things that can beat a scenic car ride (the previous item does). Especially in the fall. Trees change colors, there’s a slight nip in the air, and it just smells like autumn.
Scary movie marathon – I understand that scary movies aren’t for everyone, but if you have a few and invite people over that bring additional movies, you can make a long and scary evening out of it. If you don’t have scary movies, go to your local library and check some out. It’s free!
Make collages with leaves – This could be a nice, little craft you can do as a family. Especially if you have young kids. They love getting messy and creating with their hands. They can also have a ton of fun jumping in leaf piles before you pick the leaves out for your collage.
Ghost hunting – Seriously. In doing research for this post, this actually came up, and it surprisingly checks out. There are a number of apps available.

All-in-all, autumn is my favorite time of year. I love the weather, the leaves changing, and all of the fun things you can do. I recommend doing at least one of these activities in the next few months!

Accidents Can Affect Everything: Know What Steps to Take from the Start

September 29, 2017 by Ashley Leave a Comment

No one plants to get hurt. When the unexpected occurs, it’s important to know what to do from the beginning in order to preserve your right to recovery and maximize your claim. Here are things that you can do in order to build your case from the start of an accident:

Seek Medical Attention

Not only do you need to get medical care for your own safety, but it’s important in order to document your losses. Securing emergency treatment should be your first step after an accident. Everything else comes next.

Gather Evidence

You’re the first person to serve as detective on your case. The more information you can gather on the scene, the easier it’s going to be for your lawyer to pick up the ball and prove the other side acted negligently or intentionally in violation of Kentucky law. If you’re hurt in a car accident, call the police. If you’re hurt in some other kind of accident, take photos of the scene. If you can gather names, addresses and phone numbers of witnesses, this can be a great way to begin building a strong case.

Write a Report of Your Own

Memories fade quickly after an accident. What might seem clear as day after an accident occurs can be hard to remember only a few days or weeks later. As soon as you’re able, sit down and write out everything that you can remember. Even if you think a detail isn’t significant, write it down anyways. Your attorney can help you determine what’s most important later on.

Continue to Get Medical Care

Part of proving your damages after an accident is proving your ongoing medical needs. It’s important to follow your doctor’s care plan and go to your follow up appointments. If your doctor says to return for visits each month and you don’t go, you can bet the other side is going to question whether you’re being honest about your injuries. If your doctor tells you not to work or play sports, you don’t want the other side snapping a photo of you doing these things. Stick to your doctor’s restrictions and make sure that you follow their instructions.

Save Records

Proving fault after an accident requires a lot of paperwork. If you receive paperwork from any of your medical care providers, save it. If your employer prepares an accident report, get a copy. When the police respond to a crash, they prepare an accident report. It’s important to get a copy. These records may contain critical information, and they may also lead you to important evidence.

Lawyer Up

The sooner a lawyer gets involved in your accident case, the sooner they can put their skills and experience to work for you. Attorneys at the Gray and White Law Firm have years of experience helping good people who get hurt. They know how to jump in and secure the information that you need in order to build your case.

Kentucky accident attorneys know the law, so they can help you take the correct steps. If they need to quickly file a case in order to preserve evidence, they can prepare the correct legal documents and get them filed without delay. If there are witnesses that are reluctant to come forward, experienced personal injury lawyers know when to play nice and when to take off the gloves. Having an attorney on board from the beginning helps you make sure that you’re preparing your case in the best possible light at each turn.

Rebuilding Your Life

What you do as the dust settles after an accident matters. Taking the right steps at the beginning can help you build a strong case. On the other hand, missteps can leave valuable evidence untouched. The right legal team can fight for you as you work to protect your interests and plan for your future.

Common Mental Health Issues in The Workplace

September 28, 2017 by Ashley Leave a Comment

Mental health effects as many as 1 in 4 Americans at some point in their lives and a number of studies claim that this rate of incidence is on the rise. For those suffering from mental health issues, the impact on their day to day lives can be debilitating. Unsurprisingly, mental health issues are one of the leading reasons that employees call in sick to work, although owing to the social stigma that still exists, many people feel that they have to lie and hide their mental health issues from their employer.

In the workplace, mental health issues can not only prevent employees from being able to work, they can also reduce individual morale, making it harder for that person to perform their job to the best of their ability. They can also have a knock-on effect on the other employees around them and can seriously impact the business’ overall productivity and profitability. Below are some of the ways that common mental health issues can impact your business and how you can act to minimize the disruption caused.

Anxiety

There are a number of different forms of anxiety disorders. Some people have a generalized anxiety in social situations and may feel uncomfortable outside of situations with which they are familiar. New experiences and people can trigger panic attacks for those that are particularly sensitive. For employees who have a generalized anxiety disorder, you should encourage them to seek professional help. Research shows that counseling and other psychological therapies are the most effective treatment for anxiety disorders. Some doctors prefer to treat patients with both medication and cognitive therapies.

Other people have anxieties about specific places, situations, or things and for these individuals all that is usually needed is little bit of accommodation so that they can keep away from their specific triggers.

Depression

Many people equate depression with feelings of sadness but this is not entirely accurate; depression is actually described as the absence of emotion and motivation. The feeling of depressed individuals is closer to persistent boredom than sadness but the inability to enjoy activities which are usually pleasurable can soon have a detrimental impact on an individual’s overall mood.

There are a few different types of depression; the most common is known as unipolar, or major, depression and consists of a persistent low mood and lack of motivation.

It might be worth paying for someone on your team to study an online masters in counseling. Studying a masters in counseling online will equip them to help deal with mental health issues in the workplace and they can do so while continuing to work their current job.

Bipolar Disorder

Bipolar, or manic, depression is interspersed with periods of mania. Mania involves a ‘high’ or greatly elevated mood and from the outside it can sound or even look like a welcome respite for depressed individuals but in fact manic episodes can be just as damaging as depressive ones.

Mental health issues are something that any business owner is likely to have to face at some point. Statistically, any business employing a reasonable number of people will have to help some of them through mental health problems at some point. Educating yourself and your team about these issues will minimize the disruption they cause.

Your Guide to Some Top Reviews on US Online Casinos

September 9, 2017 by Ashley Leave a Comment

Many online casinos operate for US players, and while most of these sites have some amazing games, not many can give you add-ons such as great customer support, an easy credit card approval process, and, of course, a number of exciting bonus offers. Whichever kind of player you are – whether you look at the bonuses offered or whether you just go with the variety or quality of games available – it’s important to choose the right online casino for your needs. Here, then, is your guide to some top casino reviews on US online casinos.

Planet 7 Casino

Planet 7 Casino is arguably one of the most popular casino sites for US players, and for good reason. One of its advantages is its amazing bonuses and wins. Additionally, the software on the site is one of the most advanced around, especially when it comes to real-time gaming. The license for Planet 7 is in Costa Rica, but it is available for US customers who want to try their chances with some popular casino games. Planet 7 offers great customer support and clear policies which makes it a good choice for many players.

CoolCat Casino

CoolCat Casino is definitely ‘cool’ especially with its fast approval process for credit cards. Aside from this, CoolCat has an array of choice bonus codes, and it has great graphics and software to boot. But if you’re looking for awesome no-deposit bonus deals, CoolCat is beyond par. It gives a $100 bonus for instant cash, as long as you fulfill the 60-times rollover requirement for table games and the 30-times rollover requirement for slots. CoolCat also offers a 200% bonus for deposits, and this doesn’t come with play-through requirements.

Silver Oak Casino

What makes Silver Oak Casino special is its highly-satisfactory customer service combined with its premium bonuses and great table and slots games. It also runs on the RTG software which both CoolCat and Planet 7 run on, so the games are as realistic and exciting as can be. The site offers a bonus of 400%, and you can redeem this with a deposit of a minimum of $30. If you like blackjack, you’ll feel especially lucky at Silver Oak with its blackjack match bonuses. The payouts at this casino site are also known for their speed, and the approval process for credit cards is fast.

Slots of Vegas

Slots of Vegas is another popular site, although it is only valid for keno and slots. But for slots game fans, Slots of Vegas offers a 250% sign-up bonus, and this bonus doesn’t have any play-through requirement or maximum cash out requirement. It also offers a $25 free chip with no deposit required (although it requires a play-through of 30 times). But another great aspect about the site is that it processes withdrawals and deposits very quickly as well.

What Are the Various Colors of Diamonds?

August 22, 2017 by james Leave a Comment

Some people realize that diamonds are made up of different colors, while other people do not pay close enough attention to the various shades and hues the diamond colors have to offer. If you feel that a diamond is only a diamond and color doesn’t matter, you’re about to learn an important lesson today.

No one said that all diamonds are created equally. They’d certainly vary in shapes and sizes. And they definitely vary in color as well. The diamond color scale existing should be reason enough for anyone to realize that diamonds have multiple colors. We’ll discuss the scale in greater detail right now.

Colorless: Diamond Scale Grade D-F

If a diamond fails to have any type of tint within it, it is known as a colorless diamond. Most people would be ecstatic if they were to have a colorless diamond since it is the rarest type of diamond out of them all. As you can imagine, they are very popular yet they are also very expensive.

Diamonds in this color scale range will vary in price. A diamond graded D will cost about $1500 more than a diamond graded E. And a diamond graded E will cost about $1500 more than a diamond graded F.

Near Colorless: Diamond Scale Grade G-J

At this stage of the grading scale, you’re still looking at diamonds that technically appear colorless to the naked eye, but if you look at them under magnification you will see that these diamonds do have a slight tint to them. The tint is very subtle and very difficult to notice, which is why it’s definitely good to buy diamonds on this section of the grade scale. They are cheaper than colorless diamonds yet still nearly perfect.

Faint Color: Diamond Scale Grade K-M

The diamonds that are known as part of this color scale consist of grades K, L, and M. This is a very popular point on the color grade scale because the diamonds definitely have color them and it’s certainly noticeable, but it’s not that noticeable. So people can purchase these diamonds for a fraction of the cost of colorless and near colorless diamonds, but still have a diamond that looks incredibly beautiful.

Very Light Color: Diamond Scale Grade N-R

On this point of the color grading scale, the diamonds in this range do have color, it is noticeable, and the colors are typically either a light brown or a light yellow. Since many people do not want to purchase these particular diamonds, they are very cheap. It’s good they aren’t expensive because it gives people with little money an option to buy a diamond without spending a small fortune.

Light Color: Diamond Grade Scale S-Z

Believe it or not, diamonds light in color are more popular than very light color diamonds at the moment. The fact that the color is so prominent is the reason why people are buying them. They appreciate yellow gemstones, like the way they look, and buy them because they are inexpensive. It’s definitely a good option if you don’t mind the color.

Let’s Talk About PPI

February 13, 2017 by Ashley Leave a Comment

There are several million people who are affected by PPI and it’s one of the biggest mis-sold scandals up to date. It is all over the news, social media and even TV advertisements.

Payment Protection Plan (PPI) is a worthwhile topic to talk about for two major reasons:

Legitimately, it is a very handy product for people who have agreed on taking financial agreements to protect themselves;
It was sold illegally to a lot of people in the UK and in some other parts as well.

First, what is PPI?

This was designed to give you peace of mind when you take out a loan or a credit card and when in the event that you are unable to pay it back for some reason like when you lose your job or fall ill, this insurance will ensure that the payments towards your loan or credit card will still go on even if you are unable to make payments yourself.

Sounds like it’s a good product that has a good purpose, right? It can keep you protected just in case something unexpected happens in the future however, there were instances wherein PPI was sold to people that didn’t want it or were unaware that they were sold this policy. This means that you’ve been mis-sold PPI. The policy was included during the time that you took out a mortgage, a loan, credit card or a car deal with the idea that PPI would cover the payments should you be unable to make payments for the valid reasons mentioned earlier. The loophole here is that policies were sold to people who were not eligible for cover or it could have been sold to you without realizing it – whether it was not explained to you properly when you bought it or you had to take out the PPI to get a better chance of getting approved for the loan.

What happens next?

When you have established that you were mis-sold PPI, the best thing you can do is to check if you can start your PPI claims. There is no deadline yet to make a claim so you should go ahead and see if you currently have a PPI or if you ever had one and you can do this several ways. You can look back through your paperwork of all your mortgages, loans, credit cards or cars you’ve purchased. If you don’t have the paperwork then you can check with your credit report – it lists all the credit arrangements you’ve made that has been active for the last six years.

Once you have all the details, you can go ahead and send a letter to the bank stating that you believe you have been mis-sold PPI and that you want your money back. You can do this by yourself or if you know that you have several mis-sold PPI and it seems like it’s too much work for you, you can go ahead and approach a reputable company that can assist you in making your claim.

You should go ahead and make that claim as you could be due several thousand pounds! Don’t delay and make that claim now – you are entitled to get your money back plus interest.

4 Things to Do Right Now to Get More Money Each Month

May 31, 2016 by Stan Poores 1 Comment

Happy woman using smartphone with dollar bills flying away from

Other than negotiating for a big raise, there’s not much you can do to increase your monthly income. The best method of taking back some of your hard-earned cash is to cut out some of your unnecessary costs that rack up each month. The problem is that most people don’t want to significantly change their lifestyle in order to save some cash. There are, however, several monthly expenses that you can easily take control of and quickly lower, so you can get more money into your bank account each month without impacting the way you live.

1. Utility Bills

The first thing you should take a good look at is the amount of money you pay each month to your utility company. During the hottest or coldest times of the year, it’s important to make small adjustments inside of your home, so you can lower your utility costs a bit. One easy thing to do is to simply adjust your thermostat. Lowering or raising the temperature in your home one or two degrees is a small and immediate action you can take that can make a lasting impact on your monthly budget. Using a programmable thermostat makes this easy. Another great idea is to simply turn off the lights in rooms you aren’t occupying.

2. Credit Costs

Next, it’s time to closely analyze your credit cards and whether or not you’re paying excessive costs such as annual fees or high interest rates. First, if you have any balances that can’t be paid off, consider transferring them to a card with a lower interest rate to save some money. If you can’t transfer your balances, try calling your bank and negotiating a lower rate or the elimination of the annual fee if there is one. Of course, the best thing to do is to avoid racking up high credit card balances in the first place.

3. Tax Tips

Another helpful tip to give you more money at the end of each month is to focus on the money you pay in taxes. Before you analyze the amount of taxes you pay at the end of every year, take a close look at your withholding allowances. If you haven’t adjusted your withholding for a long time, you may be due for an update. Allowing the government to borrow a piece of your paycheck each year isn’t the best use of your salary, so you want to make sure you’re not withholding too much.

4. Insurance Savings

Lastly, you can add an instant boost to your income by checking out your insurance coverage. Most people need several different types of insurance, such as car, homeowners, or renters insurance. Instead of finding several different cheap policies offered by various companies, a smart thing to do is to go with one insurance agency and bundle your policies. With a bundled packed of insurance products, you can get the lowest rates and save the most money, without downgrading any coverage.

If you want to maximize your income potential each month, it’s important to look for small changes that you can adopt that can make an impact on the amount of extra money you have left over each month. While it’s difficult to increase your salary, the only real option is to cut back on something. It’s easy to follow these simple tips and watch your savings grow, giving you even more disposable income that you can choose to spend on the things you enjoy in your life.

As a final note, to be a really effective saver you need to be part of a supportive community. One place to find this community is on online forums. For savers specifically, a good spot is the Savingadvice.com forums. It’s a community of savers who pretty much just want to talk about saving money. Check it out here.