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How Investing in Waste Disposal Services Can Improve Your Dental Office’s Reputation

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Setting up your independent dental practice takes planning and know-how. Learn from experienced dentists, who advise that setting up a visible, reliable waste disposal system at the dental office can help build the office’s reputation.

While your waste disposal doesn’t rank among the three most common skills of a dentist – the DDS degree, patient care, and diagnosis – it does provide a visible indication of your dedication to patient and staff safety. That representation helps build your reputation as a dentist.

Types of Medical Waste Dentists Create

Dentists create four types of dental waste:

  • Amalgam
  • Hazardous
  • Pharmaceutical
  • Sharps

Each waste type traditionally requires a different method of disposal.

Disposing of Dental Amalgam Waste

The American National Standards Institute/American Dental Association (ANSI/ADA) offers a complex legal definition of amalgam waste, including extracted teeth, scrap from dental procedures and exams, trap filters, saliva ejectors, etc. The Environmental Protection Agency (EPA) requires the use of amalgam separators with at least 95% removal efficiency. This device protects U.S. water sources from contamination from health waste. After processing in the amalgam separator, the dentist sends amalgam waste to a mercury recycling facility specializing in dental waste.

Pharmaceutical Waste Disposal

According to Envicare, the U.S. houses more than 30,000 prescription dispensaries, and they follow the same rules as dentist’s offices when it comes to pharmaceutical waste. When do medications become waste products? When they expire or a patient refuses them after having accepted them.

Dentists must properly dispose of this waste using an incinerator in a hazardous waste combustor or a take-back program through a pharmaceutical company. In the latter option, the pharmaceutical firm provides mailers, envelopes, and disposal packaging to the dentist, who packages and mails the expired medications back to the firm.

Disposing of Dental Hazardous Waste

The EPA defines hazardous waste as a substance that creates a potential or substantial public health threat or threatens the environment. It must exhibit one of four traits to qualify:

  • Corrosive
  • Ignitable
  • Reactive
  • Toxic

Hazardous waste can be a gas, liquid, or solid. The physical state of the gas decides its disposal method. In some cases, it must be solidified or contained by barriers before shipping or transporting it to a hazardous waste facility.

Disposing of Sharps Waste

The U.S. Food and Drug Administration (FDA) defines a sharp as an object or device used for lacerating or puncturing the skin. This category of medical waste includes disposable blades and scalpels, hypodermic needles, contaminated glass, and certain plastics. Collect used sharps in a sharps container and dispose of them using a mail-back system. The company Medical Innovations, Inc., developed a sharps waste disposal machine that sits on a dentist’s countertop and serves as the sharps container. Once full, it also serves as the sterilization unit, which uses extreme heat and a hockey puck-shaped piece of plastic to sterilize them and embed them in the plastic. The resulting block of plastic can be safely thrown in the trash. This option proves easier on the finances than most for many dentists.

Making the Most of Your Waste Treatment and Disposal Program

Weave your careful waste handling into your blog and advertising, especially your online advertising. Creating engaging content for readers helps get consumers to spend more on your services. According to High Rock Studios, highly engaged audiences spend 76 times more than others on products and services that they see advertised online. Focus your ads on your services, but mention the things you do at your office to enhance patient safety.

Every U.S. dentist’s office must meet EPA, FDA, and ANSI/ADA waste disposal requirements for all four types of medical waste. Ask your vendors about their mail-back programs and explore your local recycling options. Share with your patients what you do to protect their safety!

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A Comprehensive Ark7 Review: Is It Worth Your Time?

What Are The Risks Of Using Public Wi-fi For Online Banking?

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what security risk does a public wi-fi connection pose

Public Wi-Fi – like the type you get access to in coffee shops, hotels, and airports – is highly convenient, allowing you to maintain a data connection without using any through your wireless plan. However, using public Wi-Fi isn’t always the safest option, particularly if you’re dealing with sensitive information. If you’re wondering, “What security risk does a public Wi-Fi connection pose for online banking?” here’s what you need to know.

The Risks of Using Public Wi-Fi for Online Banking

More often than not, banking websites and apps use encryption to protect the information you send over any network, including public Wi-Fi. Encrypted webpages are marked with a lock symbol next to the URL or “https” – with the “s” being the critical part – in the address bar.

However, that doesn’t mean online banking over public Wi-Fi is risk-free. Hackers use a variety of techniques to steal sensitive data from unsuspecting people. Here is an overview of some common strategies.

Man-in-the-Middle Attack

With a man-in-the-middle (MITM) attack, hackers break into the network and position themselves between a connected device, such as your smartphone, and the Wi-Fi router. Then, they can functionally eavesdrop on information passing between the device and router, making it possible to capture user names, passwords, and other details.

Another strategy that hackers can employ when using MITM techniques is redirecting traffic that’s running between your device and the network. When they do, they typically send unsuspecting people to fake websites designed to look secure and resemble a legitimate financial institution’s site. The goal is to trick users into believing they’re on the real website and have them input their login credentials or provide other sensitive information. If they do, then the hacker can capture those details.

Evil Twin Attack

An evil twin attack is when a malicious actor sets up a Wi-Fi hotspot and names it something associated with a legitimate entity, such as the café you stop at for coffee. The goal is to trick people into thinking that the hacker’s Wi-Fi hotspot is the one offered by the company.

If you connect to the evil twin by mistake, hackers can intercept your data with surprising ease. Additionally, the Wi-Fi device can be a tool to deploy malware onto your device, putting you further at risk.

Reconfigured Connection

In some cases, public Wi-Fi routers use default login credentials to access internal settings. When this occurs, a hacker may be able to figure out the necessary username and password, allowing them to access configuration settings within a company’s public Wi-Fi connection. Then, they can change the settings to meet their needs, which can put you at risk.

Sniffing Attack

A sniffing attack is a technique where hackers use a packet sniffer – which is a legitimate tool often used by networking professionals – as a means of intercepting, capturing, and reading sensitive data that’s passing through a network. Typically, unencrypted data is most at risk. However, some attackers may inject malicious code that could hijack or compromise your device, too.

Tips for Safe Online Banking When Using Public Wi-Fi

Update Your Operating System, Browser, Applications, and Antivirus

Keeping your operating system, browser, applications, and antivirus software up to date reduces the odds that there are security vulnerabilities present that hackers can leverage. Ideally, you want to turn on automatic updates, but if you don’t for any reason, make sure to check for them regularly and apply them as soon as possible.

Use a Virtual Private Network

A virtual private network (VPN) is a solution that adds a layer of encryption to your traffic, which makes it safer to use public Wi-Fi networks. Even if hackers intercept your traffic, they’d need to decrypt it to do anything with what they capture, which is no easy task.

Turn Off Bluetooth

Open Bluetooth connections give others a potential point of entry into your device. As a result, it’s often wise to just switch it off if you’re using public Wi-Fi and don’t have a need to use the connection yourself at that particular moment.

Ask Establishments Before Connecting

If you’re concerned about whether a Wi-Fi network legitimately belongs to a business, ask an employee about the available Wi-Fi connections. Typically, they’ll be able to tell you if Wi-Fi is something the company offers, as well as which network belongs to it.

Use Banking Apps Instead of Websites

While banking apps can have security vulnerabilities, they’re potentially safer to use if you’re on public Wi-Fi. Hackers can’t simply redirect you to a fake website designed to match your bank’s site without raising suspicion if you’re trying to connect through the mobile app instead. Essentially, the redirection attempt is more obvious, which may be enough to alert users that something is wrong with the connection.

Set Up Two-Factor Authentication

Using two-factor authentication (2FA) on your bank logins adds an extra layer of security. Usually, 2FA involves a second verification step, such as a code you need to enter that’s delivered via text message. Even if your username and password are compromised, a hacker may not be able to get the additional authentication step complete, and that helps keep your account secure.

Heed Browser Warnings

Many browsers will issue a warning if they believe there’s something wrong with a website. For example, they’ll often alert you if you attempt to go to a secure (https) site and only an unsecured (http) version is available. Similarly, they’ll often notify you if there’s an issue with a site’s certificates or if there are too many redirection attempts. If you see these warnings, particularly if you’re using a less familiar public Wi-Fi connection, wait to do any online banking until you can find a network you trust.

Change Your Passwords Regularly

If you use public Wi-Fi regularly – or even if you don’t – changing your banking passwords regularly helps protect your accounts. If a password was captured by a hacker or is part of a breach, creating a new one renders that information useless.

Skip Public Wi-Fi

For sensitive tasks like online banking, using your cellular data connection is typically the safer option. While it’s not impossible for hackers to compromise those networks, doing so is much more difficult than compromising public Wi-Fi.

Can you think of any other risks of using public Wi-Fi for online banking? Share your thoughts in the comments below.

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5 Ways to Find Unclaimed Money

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unclaimed inheritance

While the idea of losing track of money or having an unclaimed inheritance may seem odd, it happens more often than most people would expect. Fortunately, finding out about unclaimed property isn’t overly challenging. Here’s a look at five ways to find unclaimed money.

1. State Unclaimed Property Offices

Typically, the easiest way to begin your search for an unclaimed inheritance or other assets is by searching for your state’s unclaimed property office. Every state has a department that oversees the accounts that are surrendered to the government, which can occur when the genuine owner isn’t located in a timely manner. That entity then maintains a searchable database that anyone can use to check for unclaimed money.

Generally, all you need to do is put “[your state] unclaimed property” into a search engine, and you’ll find the office in the results. Just make sure you find the listing that’s associated with a legitimate government agency, as not all of the results are associated with the genuine agency.

During your search, it’s also wise to check any state you’ve previously lived in or where relatives that may have left an inheritance lived. With the former, you can look for unclaimed property that’s directly connected to you by searching for your current and any previously used names. With the latter, you may need to input the personal details of the deceased to find the unclaimed money, as it’s potentially still listed in their name.

Once you find any unclaimed property, you’ll need to go through the claims process. Typically, you need to provide some simple proof that you are the person associated with the unclaimed assets. Once you do, you’ll usually receive the associated property during the timeframe outlined on the website.

2. MissingMoney.com

MissingMoney.com is a comprehensive website that’s endorsed by the National Association of State Treasurers (NAST) and run by the National Association of Unclaimed Property Administrators (NAUPA). Functionally, it’s a one-stop shop for searching various state databases that list unclaimed assets, making it a useful tool for anyone that’s moved between multiple states or prefers to use a single resource.

Some states partner directly with the site, allowing you to file claims right through it. Others may require you to submit claims through the state website, but MissingMoney.com can direct you to the right place, making it simple.

Along with entering your name, you can narrow the results based on your current city and state or those you’ve resided in previously. This strategy is potentially critical if your name is relatively common. Otherwise, you may end up skimming thousands of results looking for matches.

It’s critical to note that MissingMoney.com is a replacement search tool for the one that was previously found at Unclaimed.org. Both sites are overseen by the NAUPA, so they access the same details. However, if you prefer to engage with your state program directly, Unclaimed.org does have a search feature that lets you find the appropriate state website quickly, so keep that in mind.

3. Treasury Hunt

Treasury Hunt is a tool that’s available through the US Department of the Treasury. Generally, it’s used to find out about mature but unclaimed savings bonds or missing interest. As a result, it’s a simple way to learn about assets a person owned before they passed away or savings bonds you may have forgotten about over the years.

Using this tool does require very specific information. You need to provide the Social Security Number of the potential savings bond owner, as well as their state. With that, any presented matches are usually definitive, and you’ll get clear instructions outlining what needs to happen to claim the funds.

As with many of these other search options, you may need to update the state to check each one you or the deceased party resided in as a precaution. Also, the results will only show matured savings bonds, so if there are any that haven’t reached maturity yet, they won’t appear in the list until the maturity date passes.

4. Wills and Estate Plans

Another resource that may help you learn about unclaimed inheritances is the deceased person’s will or estate plan. These documents formally outline how they wanted their assets divvied up after their death. As a result, they often serve as reasonably comprehensive records of the deceased’s property.

If you don’t have a copy of a person’s will after their passing, you can check with the probate court to see if it was submitted. You can also contact the attorney that drafted a will or estate plan. If you’re the executor of the estate, the lawyer that drafted the documents can potentially provide copies directly. If you aren’t, they can often direct you to the person listed as the executor, giving you someone you can ask about the contents of the will or estate plan.

Executors are responsible for keeping beneficiaries reasonably informed, so most are open to sharing relevant information with beneficiaries who may receive various assets. If the executor isn’t communicating appropriately, you may want to speak with an attorney that serves beneficiaries for assistance in resolving the matter.

5. Locator Service

If you know that there are unclaimed assets or an unclaimed inheritance, but you’re struggling to track it down, you can consider hiring a locator service. These professionals will manage a thorough search on your behalf, hopefully tracking down the property you’re trying to find.

It’s critical to keep in mind that locator services do come at a cost, so the missing property or inheritance needs enough potential value to justify the expense. Additionally, make sure a locator service is highly reputable before engaging with them. Some less scrupulous companies may do little more than try the tactics above to gather information, and others may be outright scams. As a result, some due diligence is essential.

Have you ever tracked down an unclaimed inheritance or other unclaimed money and would like to tell others about your experience? Share your thoughts in the comments below.

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7 Tips to Ensure You Receive Severance Pay When Let Go

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severance pay

Many companies are considering layoffs due to economic uncertainty. Plus, staffing reductions can occur even when an organization is financially secure. As a result, many professionals want to make sure that they’ll receive severance if their employment ends unexpectedly. If you’re among them, here are seven tips to ensure you receive severance pay when let go if it’s owed.

1. Understand the Law

Generally, there aren’t any federal or state laws that make severance a requirement across the board. As a result, even if you’re let go through no fault of your own, severance isn’t inherently guaranteed based on legislation in the vast majority of cases.

Typically, if there are exceptions, they relate to layoffs that didn’t follow government-mandated procedures. For example, state law may require that employers provide a specific amount of notice to employees before a layoff occurs, depending on the size of the layoff. If the employer fails to do so, they might be required to continue giving employees their pay and benefits for a specific period, even if the worker isn’t performing any job-related duties during that period. While that does differ a bit from traditional severance, it still results in income that’s provided after employment formally ends.

Since situations like the one outlined above can occur, it’s wise to review any relevant laws relating to layoff requirements and potential resulting severance or compensation. That way, you know what you have a right to if you’re let go in a way that violates legal requirements in your area.

2. Review Your Employment Agreements

While companies aren’t necessarily required to offer severance, many of them do have severance package details outlined in various employment agreements. This can include arrangements in individual employment contracts with specific employees or broader policies that apply to the entire organization.

Spend time reviewing any employment agreements that apply to you, and look specifically for information about severance or compensation relating to layoffs. That ensures you’re well-informed if a covered situation unfolds.

3. Check Any Union Contracts

Even if your company doesn’t discuss severance in its employment agreements, union contracts may address the topic. If you’re in a union position, review the contract to see if there are details about severance pay or similar compensation. Again, this lets you know what the company has agreed to do in specific situations and its information you can leverage if a covered event occurs.

4. Make Sure Your Eligible

Typically, there are eligibility requirements for severance packages. For example, some companies only offer severance if you’re laid off through no fault of your own, while others may expand the benefit to other types of job loss. At times, severance may be available to nearly any employee, while others limit it to workers who are full-time or work a minimum number of hours each week.

If you want to ensure you receive severance, you need to know the eligibility requirements. That helps you make decisions on the job that let you qualify for the benefit, such as maintaining a proper performance to avoid termination for cause, working the required number of hours, and more.

5. Negotiate for Severance

Severance is traditionally an employee benefit, and like many benefits, it’s often negotiable. If you’re considering a new job and are concerned about a layoff in the future, you can see if the company is willing to put this type of compensation into your employment contract. Then, if a qualifying event occurs, you have a straightforward path for securing severance pay.

However, you can also negotiate severance even if a layoff or termination is looming. Often, this is possible if the company is asking you to sign an agreement stating you won’t take legal action against it or that would bar you from discussing any aspect of your experience that relates to the end of your employment. By not signing immediately, you can request compensation for doing as they ask. Then, once that agreement is formally outlined in writing and signed by the proper company leaders, you can receive that compensation by agreeing to the company’s terms.

6. Prepare to Receive the Severance

In some cases, severance isn’t paid the same way you receive your pay. For example, severance may come as a check instead of a direct deposit, or vice versa. As a result, you need to make sure everything is in place for the process to unfold smoothly. That could include ensuring the company has the correct address or bank account information to provide the money, allowing you to avoid unnecessary hiccups.

7. Don’t Quit

Typically, quitting a job makes an employee ineligible for severance. If a company is talking about layoffs, but you haven’t been let go yet, don’t jump ship assuming that you’ll get your severance. Quitting or leaving before the official termination date could make you ineligible, and it may cost you unemployment, too.

Generally, the only time leaving early makes sense is if you receive a job offer and need to start in that role before you’re laid off. While you may not get severance, you are ensuring your income continues, so that could make the sacrifice worthwhile.

 

Do you have any other tips that can help someone ensure they receive their severance pay if they’re let go? Did you manage to secure severance pay after losing a job and want to tell others about your experience? Share your thoughts in the comments below.

 

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Here’s How To Tell If You Got A Great Sign On Bonus

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Sign On Bonus

After receiving an initial job offer, you may find that a sign-on bonus is part of the package. While any sign-on bonus is often a boon, figuring out whether yours is competitive may seem like a challenge. Fortunately, there is a way to determine whether it’s a strong offer. Here’s a look at what a sign-on bonus is and how to tell if you got a great one.

What Is a Sign-On Bonus?

A sign-on bonus is a financial incentive designed to entice you to accept a new job offer. Typically, they come in a few different forms. Some are one-time lump sum payments that you receive on a specific date. With these, you may need to remain with the company for a particular period, such as 90 days, six months, or one year. Once the outlined date arrives, you get the entire amount all at once.

Another version of the sign-on bonus involves annual installments. Typically, you receive the first payment relatively quickly after beginning the job. Then, you’ll receive the rest of the sign-on bonus in subsequent annual payments. With these arrangements, the payment schedule should be outlined upfront, letting you know exactly when you can expect the remainder of the funds.

While sign-on bonuses always function as financial incentives, they can serve additional purposes. Along with helping the company secure your skills, sign-on bonuses may offset lower salaries. Additionally, they could be used as compensation for benefits that you elect to forgo or wouldn’t receive adequate value from, though this isn’t as common.

How to Tell If You Got a Great Sign-On Bonus

As with all parts of your compensation package, determining whether your sign-on bonus is competitive usually requires research. Often, this is a bit complex, as you don’t want to compare sign-on bonus information alone. The value of other aspects of compensation packages also matters as the goal is to get the most total value possible.

Ideally, you want to explore what competitors usually bring to the table in regard to salary, benefits, perks, and sign-on bonuses. By comparing the competitor offerings to the value of the total compensation package outlined in the job offer, it’s easier to see if you’re coming out ahead or are at least in the ballpark of what’s available elsewhere.

How to Negotiate a Better Sign-On Bonus

If you feel that the total compensation presented in your job offer falls short, you can attempt to negotiate the sign-on bonus in your offer. Use your research to show that the total compensation package falls short of what competitors offer and demonstrate the value of what you’re bringing to the table. By doing so, you can create a strong case for additional compensation, which may result in a larger sign-on bonus.

However, don’t focus on the bonus alone. Instead, consider other compensation increases that can also provide the proper value. Options like a higher salary, additional ongoing performance bonuses, better benefits, more paid time off, and similar offer improvements can all work in lieu of a stronger signing bonus. Just consider what may also meet your needs and express an interest in exploring those alternatives if raising the sign-on bonus isn’t possible.

Additionally, if the company isn’t able to align the total compensation package with industry norms, then you need to consider how that impacts your feelings about the job. If you get enough value elsewhere, such as by getting to join an exceptional culture or having ample opportunities to develop professionally, the lower compensation might not be problematic. But if what you’ll gain doesn’t offset the lower compensation, turning down the job could be worth considering, as that allows you to relaunch your job search and continue working toward an opportunity that can better meet your needs.

 

Have you ever received a sign-on bonus and want to tell others about your experience? Do you plan to negotiate for a sign-on bonus in the future? Share your thoughts in the comments below.

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Should I Invest In The Stock Market Now?

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Should You Buy Stocks When They Are Down

When you’re thinking about investing in the stock market, it’s normal to be a little nervous. That’s particularly true during periods of economic uncertainty, which is what people are facing today. When prices are fluctuating, or a downturn is either occurring or on the horizon, it’s common to ask questions like, “Should I invest in the stock market now?” and “Should you buy stocks when they are down?” If you’re wondering whether investing today is a smart move, here’s what you need to know.

The Current State of the Stock Market

During late 2022, the stock market was generally trending downward. Issues like inflation and a potential recession can make investors wary, leading to some significant drops in stock market values.

In early 2023, there was some additional volatility following the collapse of two banks in the United States, with many fearing that those failures would have a cascading effect. However, that didn’t happen, and investors are feeling a bit more confident now.

Additionally, while inflation is still a concern, prices aren’t rising as quickly as they did during parts of 2022. While there may be another interest rate increase on the horizon, the positive impact the others had on inflation could mean that additional hikes won’t be necessary, or they’ll be incredibly modest.

Overall, the stock market in 2023 has largely been marked by a rebound when compared to the declines in 2022. Along with some returning investor confidence, some experts believe that any potential recession will come with a soft landing, particularly since the labor market remains strong.

As a result, while there’s still uncertainty when it comes to the stock market, the situation isn’t nearly as frightening as some previously expected. While that doesn’t mean there will be significant gains in the coming months, it could mean that losses would be minimized and recovery could occur in relatively short order. However, the stock market is – and will always be – a bit unpredictable, and it’s critical to keep that in mind.

Should You Buy Stocks When They Are Down?

Generally, buying stocks when the market is down isn’t a bad idea for long-term investors. It creates opportunities to acquire shares at more affordable prices. Then, when the market recovers and growth returns – which is what traditionally happens given enough time – those investors can enjoy the gains. Essentially, even if there are losses initially, those with a longer timeline can essentially ride out the storm.

For short-term investors, buying stocks when they are down is also potentially wise, but it can also lead to losses depending on how the market shifts in the coming months. It’s still unclear whether more losses could occur, particularly if the United States officially enters a recession or interest rates rise again to combat inflation. Ultimately, shorter timelines increase risk since a sudden downturn is more likely to result in losses that aren’t recoverable before an investor plans to withdraw that money.

However, in either case, investors need to do their research before investing in anything. Market volatility isn’t something short-term or long-term investors should ignore. Often, it’s best to look at a company’s ability to operate successfully even if economic conditions move in an unfavorable direction. That helps you determine if a stock is potentially undervalued, as those can be solid opportunities.

Just make sure to balance any investments with your risk tolerance. Additionally, don’t overlook the importance of diversifying. A diversified portfolio is typically more resilient, as losses in one area may be offset by gains in another. When in doubt, look for index funds or ETFs that offer inherent diversification, as those generally come with less risk.

 

Do you think that now is a good time to invest in the stock market, or do you believe that economic conditions aren’t ideal for investing? Do you traditionally try to take advantage of falling stock prices, or does your investing not change when the market fluctuates? Share your thoughts in the comments below.

 

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How to Choose the Right Dental Insurance Plan

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Dental insurance is important when it comes to making sure that your teeth are in great shape. However, looking for the right dental insurance plan can be intimidating. To help make your insurance journey a little easier, here are a few key things to remember to help you choose the right plan.

How Many Cavities Do You Have?

According to estimations from the Centers for Disease Control and Prevention, 25.9% of American adults aged 20 to 44 have untreated cavities. Regular dental checkups are crucial in identifying and treating cavities before they worsen. However, fillings can also be expensive. If you already know that you have a high number of cavities that you need filled, it’s a good idea to consider the cost of those fillings when looking at different dental insurance plans. Aim for the plan that covers the most when it comes to preventative care.

Will You Need Orthodontic Treatment?

If you don’t have any cavities but you need orthodontic treatment, it’s important to consider dental insurance plans that offer the most coverage for the type of treatment plan you need. About 25% of orthodontic patients are aged 21 and older, and the second most common reason for braces is to fix a bite issue. The average length of time a person will need to wear braces to fix these kinds of orthodontic issues is about two years, but it may be longer depending on the extent of treatment needed. Braces typically cost up to $6,000 in total, so keep that in mind when you’re looking at the annual coverage amount that your dental insurance plans may offer for orthodontic care.

Are You Interested in Cosmetic Dentistry?

If you’re self-conscious about your teeth, cosmetic dentistry may be the solution. About 25% of adults who responded to the Harris Poll’s online survey about attitudes toward smiling said they don’t show their teeth. Several procedures, including teeth whitening, veneers, bonding, and gum reshaping, can be used in cosmetic dentistry to improve the appearance of your teeth. However, it’s important to keep in mind that not every dental insurance plan covers cosmetic dentistry, and there’s a chance that you may be paying out of pocket for your procedures. If you need standard preventative dental care and you’re interested in cosmetic dentistry, consider taking a look at plans that offer coverage in that area to make paying for those treatments a little easier.

Make Sure the Plan You Choose Meets Your Dental Needs

Before choosing a dental insurance plan, consider your dental needs. You may want a more comprehensive plan if you have a history of dental issues or frequent dental visits. However, a basic plan may be sufficient if you only need routine checkups and cleanings. It’s important to choose a plan that meets your specific dental needs.

It’s important to understand the coverage included in your dental insurance plan. Some plans may only cover preventive care, while others may cover a wider range of services, such as fillings, root canals, and orthodontics. Make sure to review the plan’s coverage and limitations before making a decision.

Although selecting the ideal dental insurance plan can be challenging, it is essential for preserving good oral health. Prioritizing your needs will help you find a plan that meets your needs at a price you can afford. To avoid surprises when filing a claim, review what the policy covers.

Just Lost Your Job? Here’s 10 Things Not to Do With Your Severance Pay

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Severance Pay

In some cases, companies offer severance pay to laid-off employees. If you’re someone receiving severance pay or want to ensure you’re prepared should a layoff and severance pay come later, it’s wise to have a plan for the money. Otherwise, it may not last as long as you’d expect. As you create a strategy, here are ten things not to do with your severance pay.

1. Big Purchases

Generally, you shouldn’t use severance pay for a big purchase. Primarily, that’s because the money is meant to substitute for your income until you find a new opportunity.

Unless the big purchase is essential for living, such as replacing a broken down refrigerator that isn’t repairable with a reasonably-priced model, it’s better not to treat the cash as a windfall that you can use for luxuries. That attitude can cause you to splurge far more often than you may realize, causing your severance pay to run out fast.

However, if you’re talking about a genuine essential, you could potentially make a big purchase as long as you plan accordingly. Determine if you can reasonably survive on what remains until you find a job. If the answer is yes and you’re willing to stick to a strict budget moving forward, then the purchase is potentially supportable.

2. Small Splurges

In some cases, people feel like they deserve small splurges when they’re going through an emotionally challenging situation like a layoff. They view the purchases as a pick-me-up, hoping it will improve their mood.

The issue is that small splurges can often add up fast. For example, while paying $5, $7, or more for a coffee at a café may seem like no big deal on the surface, if you do it every day for weeks on end, that represents a lot of money.

If you do want to give yourself the occasional treat, work it into your budget. For example, you could allocate $10 per week for spontaneous splurges. Then, pull out the $10 in cash and only use that money for the small luxury purchase. Once that cash is gone, no more splurges until you get the next $10 the following week.

3. Lend the Money

Some people receive their severance pay as a lump sum, and it can be a large amount of money in some cases. As a result, people may believe it creates an opportunity to assist their nearest and dearest, particularly if the person they know is struggling financially.

However, lending the money comes with the risk of not getting paid back. As a result, if the person who borrows it doesn’t handle their side of the arrangement, you might find yourself falling short during a time when you don’t have other income.

Ultimately, lending money to loved ones is always risky, but it’s particularly dangerous during times of personal uncertainty. Since that’s the case, it’s better to avoid this entirely.

4. Risky Investments

When your regular source of income disappears, and you aren’t sure when you’ll get a new job, investing the cash might seem like a smart move. However, all investing comes with risk, and not all opportunities are created equal. There’s always a chance that an investment isn’t going to pan out, causing you to lose significant amounts of money.

Since financial distress can increase your odds of considering risky investments, as those may seem like they have the most growth potential, your chance of losses is high. As a result, it’s usually best to avoid investing your severance pay in hopes of quick growth, as you could suddenly find yourself without a source of income.

5. Ignore Taxes

Many people don’t realize that severance pay is taxable. Additionally, even though an employer usually withholds some of the money for taxes, it may be insufficient, depending on what’s listed on your W-4.

Additionally, the entire amount is taxable in the year you receive it. As a result, lump sums could mean owing more in taxes during one year than you’d expect. That’s particularly true if you’re shifted into the next tax bracket up.

If you’re receiving severance pay, understand that it’s taxed the same as normal income. Review your withholdings, determine if enough was set aside, and consider saving some of the severance pay to cover any tax shortfalls should they occur.

6. Calling It Spending Money

Generally, severance pay is a short-term income replacement. However, calling it “spending money” can cause you to adopt a potentially dangerous mindset. It may lead you to believe that spending every dollar is okay, even if that means not having an emergency fund to cover the unexpected.

While it’s true that using severance to cover expenses is fine, it’s also wise to save some for potential emergencies. At times, that may mean adjusting your budget and spending habits to live on less, at least until you find a new job to replace your income. But it’s an adjustment worth making, as it can ensure that you’re not in a tough spot if something unanticipated occurs.

7. Keep Your Old Budget

Even if your severance pay provides you with the same amount of income you had previously for several months, that doesn’t mean you should keep your old budget. Instead, it’s best to find areas where you can cut back. That way, if you don’t secure a new position before the period your severance pay covers ends, you still have some money available.

Ideally, you want to scale back as much as possible while still ensuring all of your obligations are met. Remember, any sacrifices you’re making are likely short-term, as you can move toward your old budget once you’re working again if the income amount is similar. Plus, if you end up in a job that pays less, you’ll have a potentially workable budget already in place, which could give you peace of mind.

8. Skip Health Insurance

When you’re laid off, you usually have the option to continue your health insurance. That’s because of the Consolidated Omnibus Budget Reconciliation Act (COBRA), which outlines requirements for employers to have pathways for terminated employees to keep their coverage for up to 18 months.

COBRA insurance will cost more out of pocket in many cases, as the employer doesn’t have to pay a portion of the premiums. However, declining health insurance puts you at risk. Any medical needs you have before you get a new job with medical coverage will have to be paid out-of-pocket, and that’s potentially far more costly than covering the higher premium. As a result, it’s better to take a close look at this option instead of assuming that skipping it is the right move.

9. Let Debts Get Behind

After a layoff, it’s potentially tempting to look for ways to put any required debt payments on pause until you have a new position. Many lenders do have programs that make that possible, but some do come with financial risk. For example, forbearance can let you skip some payments, but interest may continue to accrue on your remaining balance. As a result, your debt could grow surprisingly quickly depending on the terms.

With some lenders, you might have to pay make-up payments once the pause ends. In this case, you could find yourself owing several payments all at once, and that could throw your future budget way off balance or might increase your risk of default.

While it’s fine to use the various programs if you genuinely can’t keep up with your debts, it’s better to continue with payments if you’re able. That ensures you don’t accidentally accrue more debt through interest or find yourself in a bind later.

10. Not Getting Financial Advice

In some cases, using your severance pay seems simple. After all, you can generally treat it like income, using it to cover expenses and save for an emergency.

However, if you aren’t sure whether you’ll get a new job quickly or if the pay in a different position would at least match your last one, getting financial advice from a professional isn’t a bad idea. They can help you come up with a plan to stretch your severance pay to ensure it lasts as long as possible, giving you more wiggle room if finding a new opportunity proves more difficult than you initially expected.

Is there anything else that you think people should avoid doing with their severance pay? Do you have any tips that can help someone properly manage their severance pay? Share your thoughts in the comments below.

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Actions That Lead to People Paying Higher Costs

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Many people want to be able to learn how to make their finances do whatever they want them to do. This means that you’re working hard and keeping an eye open for ways in which you can save and make sound financial decisions. That said, there are actions that can lead to you paying higher costs over time. This may make your hard work end up being in vain since you won’t be able to keep a hold of your finances in the best possible way. Have a look below to see some of these actions so that you can stop them in their tracks and maximize your finances.

Breaking the Law

The first thing that may see you losing a chunk of your finances is breaking the law. Rules and regulations exist for a reason, and this is to ensure that everything is done with order. They also help make sure that citizens stay safe from various things that could go wrong if care isn’t taken. This is why breaking the law calls for jail terms and fines.

Something like DUI may be one of the more serious instances of breaking the law as a driver. On top of placing fellow road users at risk, DUI also puts the driver under the influence at serious risk of fatality. This is why when you’re caught and charged for DUI, you’ll typically have to pay massive fines on top of other consequences. According to the Law Office of Jason Skala, LLC, the nighttime hours when alcohol-impaired driving takes its toll around 9:00 p.m. to 3:00 a.m. the most often in 2018. Regardless of the day or hour, it’s never worth it to engage in such a risky activity.

Vehicle Issues

Another action that may cause you to pay a good sum of money that you may have saved is letting vehicle issues pile up. One of these is letting your vehicle go for a long time without service and thus predisposing it to the risk of unexpected breakdowns. This makes it important for you to keep up with your car’s recommended service schedule.

Another troublesome and expensive car issue is parking, which you may not even know costs you good money. According to INRIX, searching for a parking spot in the United States costs motorists $73 billion on average every single year in terms of wasted time and fuel. This is clearly enough money to motivate you to search for a long-lasting solution, such as moving to a place that’s closer to your place of work so that you don’t have to deal with the issues associated with commuting.

Health and Medical Matters

The final action that might lead to you paying higher costs is delaying dealing with health issues and medical matters. This could see the issue get worse and call for more money to fix than it would have called for if you addressed it early enough. This is not even considering the fact that it may get more painful and uncomfortable to have to endure.

You also need to go to the doctor for regular health checkups in order to make sure that there are no issues waiting to act up. According to Care Station Medical Group, you should visit a doctor at least once every year. Try your best to keep up with this and you may save money in terms of health costs for you and your family.

Keep an eye on these actions to lower the chances of having to pay higher costs. When you do, you may find it easy to live a more fulfilling life that doesn’t leave you with unnecessary expenses. This is one of the best ways to maintain control of your finances and live a happy yet cost-effective life.