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Save Money on Legal Fees

July 15, 2019 by Susan Paige Leave a Comment

Don’t get me wrong – when you need legal advice, cheaper is not always better. Shopping for an attorney by price alone may not be the best strategy when you are facing important, life-changing events such as a criminal charge, a serious personal injury, or a difficult divorce. Nevertheless, you can save yourself some money by following a few of these tips.

Don’t assume that the largest law firm in town is the best. Large law firms tend to charge more than small firms and sole practitioners. If your legal needs don’t involve large corporate mergers, international business deals, or complex class action litigation, you may not need to hire a law firm whose billing rate starts at $500 per hour. Look for a smaller local firm that may be able to offer more personalized service while billing at a much more affordable rate.
Sign up for a free consultation. Not all lawyers offer free consultations, but many do, especially those in the personal injury field. If you are in upstate New York and need a Niagara Falls personal injury lawyer, you may want to talk to more than one firm before you choose the one that is right for you. Be sure to ask about their fee schedule and the possible costs that could be involved with your case. If you’re Virginia, consider ReidGoodwin personal injury lawyers. They’re a solid Richmond based firm and will do a good job for you.
Be wary of slick TV ads. If you are injured by a medical device or product, you have probably seen ads on television for lawyers who handle cases like yours. You may even receive advertisements in the mail from law firms who want your business. Look at the fine print – Usually, the law firms that advertise on TV have to hire local attorneys to handle cases in your state, so why not eliminate the middleman? If you are in Massachusetts, for example, only a Massachusetts attorney may represent you in a Massachusetts court. Find an attorney in your state who has experience in the type of litigation you may need.
Make sure you really need an attorney. Some states allow non-attorneys to handle certain tasks, like title searches and real estate closings. These services may be less expensive through a title company or other authorized provider.
Remember: When you are being billed by the hour, the clock starts ticking as soon as your attorney picks up the phone, or as soon as you walk into his/her office. There is nothing wrong with that, but you have some control over how long your meetings and phone calls will take. Don’t waste your attorney’s time. In a divorce matter, for example, you do not want to pay $250 per hour to make your attorney listen to petty complaints about your spouse. Save that for your friends. Your attorney needs to know facts that are relevant to your case. Try to separate those from petty annoyances that will have no significance to your final outcome.

Write down a list of questions before you talk to your attorney. The less time you spend talking aimlessly while trying to remember what you wanted to ask, the less expensive your visit or phone call will be.

Don’t ask your lawyer to do tasks that you might be able to do. If you need to produce bank statements, for example, you can get them yourself rather than paying your attorney to do it. Ask your attorney if there is anything you can do; if the answer is “no,” then stand back and let him do his job!

Will My 401(k) Last for the Rest Of My Life?

April 23, 2018 by Leave a Comment

If you’re starting to think about retirement, and your career has largely been in the private sector, your 401(k) balance could be the most important factor in determining whether you’re on track to retire or not.

Whether your 401(k) will cover your spending needs until the end of your life will depend on a lot of factors. It’s important to not just pin your hopes on a certain target for an account balance–a million dollars, two million dollars, whatever–and instead look at the whole picture. So let’s start with a few other questions that are just as important.

Are You Saving as Much as You Can in Your 401(k)?

There’s almost no way around it: You have to save money to make money. There is often a bit of a free lunch–call it a free appetizer–when it comes to 401(k)s, though: The amount your employer matches your own contributions. It could be a dollar-for-dollar match up to point, or some percentage of what you contribute yourself that increases over time. Either way, you definitely want to contribute at least this amount, or you’re leaving that free appetizer on the plate.

But that should really only be the beginning of any 401(k) savings plan. Fidelity advises saving 15% of pretax income. If you’re 30 or 40 years old and haven’t given the issue much thought until now, that number should serve as the minimum you should save.

Get into the habit of increasing your contribution percentage each year. Psychologically speaking, if you never see it hit your paycheck (because it’s going straight to your retirement account), you won’t miss it. Set an annual calendar reminder to increase that contribution, even by a half a percentage point. Between the contribution increases and salary increases, you should be able to put your contributions on a sharp upward trajectory.

What Else have You Got?

Once you have your plan for annually boosting 401(k) savings in place, consider what other sources of income you are counting on at retirement. Social Security is an obvious one. If you’re lucky you might have a pension of some sort. Brokerage accounts, rental property, or the planned sale of some asset like a business should all be taken into account as well–and will almost certainly affect how long you can expect your 401(k) will last.

Another reason not to simply come up with an arbitrary hit-your-number mark: Spending matters. At the risk of stating the obvious, your 401(k) and other investment assets will generally last longer if you plan to sip rather than gulp.

You’ll want to have a very solid grip on your plan’s MPG–that is, your projected spending in retirement–to get an accurate reading.

What Is It Costing You?

Even if you are diligent about saving to your 401(k), you probably haven’t considered what the plans might be costing you.

And why would you? The plan administrator’s fees–in addition to the fees paid to the fund companies themselves–are largely out of your control.

But it’s important–especially the further you are from retirement. Fees can really chip away at account balances over time. Consider a 401(k) returning about 7% annually. Here’s what happens if we modify the fees by half a percentage point and assume contributions of $18,000 per year.

Your main recourse here is to talk to your HR department and start asking questions. What are the fees of running the plan? How do they compare with fees offered by other plan administrators for companies of your size? Making sure the HR team has done their due diligence on this could mean tens of thousands of dollars to you.

You can also look at the fees charged by the funds themselves. Funds have expense ratios; actively managed funds generally have higher expense ratios than passively managed funds. To keep things really simple, consider a target-date retirement fund, which shifts its asset classes toward less risk the closer you get to retirement. (And if your plan does not offer a target date retirement fund, it should.)

Your 401(k) Is One Piece of a Larger Puzzle

A large 401(k) balance could have a big effect on when you can retire and your living standard when you do. But looking at it in the context of everything else we’ve talked about here is more important than an absolute dollar figure. Total savings, where you plan to invest your assets, the cost of those investments, and your spending habits are all complementary forces that will factor into a successful retirement plan.

Cherry Casino Bonus Offer

February 6, 2018 by Susan Paige Leave a Comment

Have you logged in to play any fun online casino games recently? There are a plethora of phone apps and websites that make it possible for you to virtually gamble. Even better news, you’ll save money by not hitting the actual casino.

The actual travel time behind going to the casino is something to take into consideration. If you are traveling a long way, say taking a flight to Vegas, the casino trip can get costly. You have to factor in the price of the airplane ticket, cost of food once you are there, money to gamble, and other miscellaneous costs.

All of that being said, there’s no wonder as to why an online casino may be appealing. You can play wherever you are, and you can still play the same games available at the brick-and-mortar location.

You save money in other ways too!

Many online casinos also offer promo codes and special offers to new and existing members. For instance, some online casinos will offer you a perk if you pay with your credit card. Others may give you cash or virtual money for referring a friend. Whatever the case may be, there are more ways to earn and save money with online casinos.

Check out this Cherry Casino bonus offer. This online casino is just one of many offering great perks for registering a new account. They are currently offering a 100% match of your first deposit (up to £25). Getting your bonus is pretty easy. All you need to do is enter the voucher code after you’ve registered your account. Then you get FREE money!

Before signing up for any online casino, it is important to check the site’s terms and conditions. Each site differs. For instance, the site above only requires £10 to sign up. Other may require a higher dollar amount to establish your online casino account. Some may also require a monthly deposit. So, as always, read the fine print.

Online casinos are still a relatively new thing. Many sites are still establishing rules and various promotions. In the years to come, don’t be surprised if you see them rise in popularity. For many, it will be a great way to make extra cash without having to spend any money on the trip they’d normally take to get there.

Lastly, remember to gamble responsibly. If you think you may have a problem with gambling, reach out for help!

Age Old Money Saving Tips That Go A Long Way

December 15, 2017 by Susan Paige Leave a Comment

Most of us find it hard to save money nowadays, but the reality is that fewer have even made the attempt. The usual excuse is there is not much left after the monthly expenses have taken their toll on meager earnings. It’s a fair argument. But I’m sure we can learn to be creative with our spending and lifestyle in order to put hard earned cash back into our pockets. Wonga has recently revealed survey findings which show sadly that too many South Africans lack sufficient financial skills necessary to manage their money properly and adequately. Here are some interesting tips to get the ball rolling:

Food

When you can’t afford to buy a roast but long for a roast dinner, buy a few slices of roast beef from your butcher, make your own gravy and veggies and you have a yummy roast dinner at a fraction of the cost.
Recycle and revamp your leftovers into a pie. The meat and veg from your Sunday roast can be transformed with a simple lid of pastry and some sauce or gravy. Money saved R60 July 2012
Skip the supermarket pricey cheat ingredients and readymade sauces and cook your meals from scratch. Money saved R20 July 2012
Buy a whole chicken instead of breast fillets and you’ll have enough for two meals. Roast your chicken for 1 meal and then use the carcass to make a delicious stock. There’ll be plenty of flakes of meat left to create a soup. Make it a meal by adding potatoes and veggies or noodles for an Asian twist.
Don’t forget to look at the lower shelves when you’re in the supermarket. Supermarket own-label goods offer the same quality as brands, often for about a third of the cost.
Look for boxes of meat off cuts. They’re not just as neat as other cuts but are much cheaper. You can usually pick up a lamb box in supermarkets for less.

Electricity

Save electricity by boiling water and keeping it in a flask instead of re-boiling the kettle several times a day.

Washing

Washing powder has become so expensive. I put a large cake of Sunlight soap in an empty two-litre ice cream container and slowly pour a kettle of boiling water over it until the container is almost full. I close it and when it’s cooled, the soap turns into a nice thick gel. I use about a cupful of this for one bundle of washing. It works really well and the soap can be reused – just keep filling the container with boiling water.

Clothing

Tired of your old wardrobe but too broke to shop? Organise a clothes swap party by getting friends to bring and exchange five items they never wear. You’ll rid your cupboard of those guilt-ridden outfits you never wear and score a few new ones for yourself!

Shopping

Very few people who shop monthly get every item they need, so they still end up going to the cafe. And if your family is undisciplined, you’ll go through those 10 cans of tuna you got on special by the end of the first week. You may find then that weekly shopping is cheaper especially if you plan each week carefully and don’t buy ‘extras’. You’ll also benefit from weekly specials.
Before buying your weekly groceries sit down with your family and discuss what kind they would like to eat during that week. Many people opt to buy a large variety of food so they can decide on the day what to prepare but with this method, a lot of fresh items go unused and end up in the bin.
Supermarkets tend to have sales on food items in the middle of the month. Try doing your grocery shopping around the 15th of each month and you’re bound to save.
If you buy your milk and other groceries between Sunday and Thursday, you’ll get a better deal, because that’s when most of the stores have their weekend specials.
You can haggle. While retail giants are a no-no for this, if it’s not a big store with barcodes on products, feel free to say ‘I love it, but not the price’. Wait to see what they say but, if the stand-off goes beyond your comfort zone, try an offer of 15% off when buying for cash. This should help ease the deal a bit.
Sticking one price label over another is actually illegal.
Make sure you read the labels for expiry dates and contents, just in case you’re allergic to anything.
Keep your till slips, regardless of the product bought, so that you have proof of when you bought the item, where you bought it and the price charged.
Did you know that bread baked on the premises of a store is supposed to weigh at least 800g? And that, in most places, the bread weighs only between 680g and 700g.
If a 1lt sachet of milk doesn’t weigh at least 1kg, then it’s not 1lt of milk.
Try to buy fresh chicken, rather than frozen, because you’ll pay between R2 and R5 more for the frozen product.
Try and equate everything to 1kg, and you’ll establish more or less what kind of value for money you’re getting.

The goal remember is to find ways in which you can reduce your overall spend on a monthly basis. See if you can think of other creative ways to hammer down unnecessary spending in your home. For more money saving tips check out the Massive Money Saver blog post.

Learn How to Read Your Insurance Policy with Help from Health IQ

December 11, 2017 by Susan Paige Leave a Comment

Understanding the ins and outs of a life insurance policy can be quite frustrating. If this is your first time looking into life insurance, you might not be familiar with many of the terms and phrases used when talking about life insurance. By learning these terms, you’ll be able to choose the right policy for you without any hesitation. One of the first terms you might come across is “rider.”

A rider is an add-on to any standard life insurance policy that lets you exclude or include certain types of coverage. This lets you create coverage that meets your exact needs. For example, if you have a terminal illness and need money to pay for your care, you can choose an accelerated death benefit rider that will give you a payout while you’re still alive. Another term you might hear thrown around is the Declaration Page (or DEC). This is the first page of any contract and will outline your policy number, costs, and coverage limits.

Double indemnity is when your insurer pays double when certain conditions are met, such as dying in an accident. Finally, the insuring agreement is a binding promise from the insurer to pay after your death, and the mode of premium payment is how often you make payments. If these terms are confusing to you, keep in mind that life insurance from Health IQ is always transparent and easy to understand. Want to test your policy-reading skills? Take the quiz below and see how well you fare.

Learn about Life Insurance from Health IQ and Breathe a Little Easier

December 11, 2017 by Susan Paige Leave a Comment

Life insurance always seems like a problem for an older generation, but then one day you wake up to realize that you’re no longer a 20-something and you should probably think what happens next. Covering yourself against the future is a bit scary the first time around, but that protection brings about a priceless peace of mind. You owe it to your family to make sure they’re taken care of, even though you don’t want to think about all the things that could happen. You can’t hide your head in the sand forever.

Maybe you can’t currently afford a whole life insurance policy. That’s not a problem. Find a term policy that suits your needs for now. Later on, you can convert to whole life without going through all the rigamarole of signing up for new coverage. There are various other ways to lock in a monthly premium that fits your budget. The money you pay now isn’t nearly as important as what comes after you pass. You don’t want to think about death, but it’s inevitable. Deciding what happens afterward is essential. Don’t leave behind any unfinished business.

Health IQ explains the vocabulary of this necessary step into adulthood. You need to name someone as a beneficiary to your worldly possessions, including your finances and your home. Remember that, as with any other type of insurance, you can shop for different policies and compare rates, premiums, and coverage. Always read the fine print so that neither you nor your loved ones are unpleasantly surprised by unexpected clauses.

About Health IQ

Health IQ’s mission is to improve the health of the world by celebrating the health conscious through financial rewards. Health IQ delivers better rates and underwriting, and was recently featured in sites such as CNBC, Venturebeat, and TechCrunch. and partners with top-rated insurance carriers such as SBLI, Ameritas Life Insurance Corp. and Assurity Life Insurance Company, and reinsurer partner Swiss Re to offer health conscious people between 4 and 33 percent lower rates on life insurance. Founded in 2013 by a team of health conscious entrepreneurs, the company is a licensed life insurance company in all 50 states and has helped tens of thousands of individuals secure a total of $5.3 billion in insurance coverage.

Does You Family History Affect Life Insurance?

December 11, 2017 by Susan Paige Leave a Comment

When you’re applying for life insurance, insurers will take into account many different factors about you as an individual before determining your rates. These might include your age, health and medical history, gender, whether or not you smoke, lifestyle, and driving record. However, did you know that your family medical history can also play a role in how much your premium will be? Medical issues in your family are a sign that you could have a greater likelihood of disease or early death. In fact, many insurers raise premiums if you have a family member that died before the age of 65 that was caused by health problems.

There are many different diseases that can be passed down from parent to child. In some cases, diseases can even skip a generation. For example, your grandparent might have had cardiovascular disease, but your parent has a healthy heart. If you develop an arrhythmia sometime in your life, this could be because you have the gene for it from your grandparent. Generally, insurers don’t go all the way back to grandparents when searching for medical history. However, they might look at the health of your siblings to see what possible health problems you might develop.

It’s important to be honest about your family history while applying for insurance quote life insurance from Health IQ. Otherwise, your policy can be cancelled immediately and without notice if it’s revealed that you lied. If you don’t have a family history because you were adopted or never knew your parents, you will probably still be able to get insurance, but you’ll have to confer directly with the company to see its policy.

About Health IQ

Today, most students graduating from college find themselves burdened by significant debt. According to a recent study, the average student has around $30,000 in debt. If you’ve just left college, this amount is huge considering that your career is at its infant stages.

The situation is much worse for students who can’t enter into their specific career field leaving them with limited options to service the student loan accrued. Unlike in the past when refinancing was mainly used towards mortgage and auto-loans, today graduates can easily refinance student loans. Besides reducing the interest rates significantly, this method can also be effective in lowering the monthly payments.

What is refinancing?

Basically, refinancing is when a lender pays off your current debt at once and they give you a new loan. Typically, the new loan comes with better interest rates. This leads to significant savings or a more favorable payment schedule. For instance, a student loan can have interest rates of about 12%. But after refinancing, it can go down to even 3%. However, the interest rates are greatly determined by your qualifications as well as the lender.

When you get a refinancing deal with lower interests, it means the amounts added to the loan principal per month. But if you are getting your loan refinanced so that you can get a longer repayment period, it means you’ll end up paying more money compared to what you’d have paid if the duration was shorter.

Are you eligible?

Despite the fact that this refinancing is a brilliant move, not everyone will qualify to make the move. Most lenders are keen to look at your employment status as well as your income. In addition, the debt should be coming from recognized universities and colleges. At the same time, you’ll come across just right loans lenders who only approve graduates from specific.

Most lenders are impressed by graduates who have a good credit history without past missed payments. This assures the lender that you are reliable and they’ll quickly approve your loan if you have a stable income. While most lenders will approve your application if your credit score is over 600, you’d get a better deal in terms of interest when your credit score is higher.

However, you may still qualify even when your earnings or credit score are above average. All you need to do is have a co-signer who is credit worthy. You can ask one of your friends or family member to co-sign the loan with you.

Requirements for refinancing

After evaluating your situation, it’s likely that you’ll decide in favor of refinancing. But before you go out there to find a lender, you need to prepare a few things in advance.

Have a recent copy of your tax returns to prove your income as well as total liabilities.

Check your credit score at the moment to know how much you’ll be paying in interests. If you have no idea what your score is, you can easily check on Experian or Transunion.

If it is below average, you need to have a co-signer in advance. Find a friend or relative who is willing to co-sign your loan.

What are the loan terms?

When you start hunting for the most appropriate refinancing deal, it’s obvious you’ll come across several offers. Different lenders have varied interest rates as well as repayment periods. Depending on your preferences, you can choose to repay the loan in five, ten or even twenty years.

Ideally, paying the borrowed money in a short time is a wise decision but it is not always a viable financial option. Therefore, you can choose to clear the loan over an extended period, which means you’ll have a lighter monthly burden. If your earnings grow when you’re still servicing your loan, you can decide to increase the payment amount to clear the debt sooner.

Most lenders will also give you the option to choose between a variable and a fixed interest rate. Basically, variable interest rates can go as low as 2%. However, they tend to fluctuate as time goes and makes budgeting quite a challenge. While a fixed interest rate seems higher, it stays the same over the entire lifetime of the loan. This makes budgeting easier since you can predict how much you’ll be paying.

Conclusion

Making a decision to refinance your student loan can be a strategic move towards saving a significant amount of money. However, the decision requires substantial forethought as well as financial planning if you want to get all the benefits.

But before you make a decision, evaluate all the benefits of the student loan. Normally, federal loans come with attractive benefits which are not available with other sources of credit and you’d lose them if you refinance the loan.

If you are sure your financial status makes refinancing a viable option, you need to spend some time creating a specific plan that will help you to spend the money wisely.

Are You Saving as Much as You Can in Your 401(k)?

What Else have You Got?

What Is It Costing You?

Your 401(k) Is One Piece of a Larger Puzzle

Read More