MAKE MONEY ONLINE POSTS: 09/26/19

الخميس، 26 سبتمبر 2019

The Root Car Insurance Review 2019

Root Car Insurance is making waves in the car insurance industry as a car insurance smartphone application, where insurance rates are based on customer driving habits. Not only is this a great option for tech-savvy customers, it’s also known for its low car insurance rates and the ability to help you save up to 52%.

How does Root Insurance work?

To begin, drivers simply download the Root Insurance app to their iPhone or Android and drive normally for two to three weeks. The app gathers and analyzes data while you drive to determine your Root Insurance quote. The app looks at your breaking habits, what time of day you drive, turning habits and avoidance of sudden starts and stops. All of these factors are taken into consideration when your rate is calculated, so the better you drive, the more money you can save.

The Root Insurance At a Glance

The Root Insurance uses your iPhone or Android to measure your driving behavior for two or three weeks to determine your car insurance rate.
Roadside assistance is included with every policy.
The Root offers a coverage quiz that recommends the right coverage plan for you.
Customize your own plan and make changes at any time through the app.
Retaining a quote takes a long time compared to other insurance providers, but happy customers agree that the wait is worth it based on how much money they save.
Offers policyholders special features like free Lyft credits on certain holidays.

The Specs

Price	Price varies depending on customer driving habits. Your driving behavior is the number one factor in your calculated rate.
Best For	People looking for cheap car insurance People with good driving habits and an excellent driving record Students looking for an affordable car insurance plan People interested in personalized car insurance quotes Tech-savvy customers who don’t mind a mobile experience
Not For	Residents living in any of the 20 states where Root is unavailable People looking for a quick quote People in need of specialized coverage People uncomfortable with being insured by a new company
States Served	30
Better Business Bureau Rating	A+
In Business Since	2015
Standout Features	Entire insurance experience is based on the app Discounts are built into your quote instead of customers asking for them or having to earn them No agents are required, all work is done through The Root app Savings up to 52% Easy process for filing claims

The Claim

The Root claims to help customers save up to 52% on their car insurance. Unlike most traditional car insurance companies, Root advertises that customers can completely control their policy from the app for a hassle-free experience. You can make instant adjustments based on what you’d like to add or leave off, customers simply open the app to modify plans without having to talk to an agent.

Is it True?

Based on The Root insurance reviews, the company actually saves most customers a substantial amount of money compared to their prior insurance provider. Some customers claim to have saved over 50%, with one customer even commenting that The Root cut his car insurance rate in half. Other customers have saved anywhere from $40 a month to $100 a month on their coverage. As far as a completely mobile-friendly policy experience, there are no complaints reported to the Better Business Bureau that contradict what’s advertised on their website.

Our Deep Dive

Best rates for the best drivers: The Root app uses mobile technology to measure your driving habits during The Root Test Drive. If you’re interested in obtaining a quote from The Root, all you have to do it download the app and drive as you normally would for two to three weeks. While you drive, the app gathers data and provides you with a quote at the end of the test drive based primarily on your driving habits. During the test drive, your provided with a Driver Scorecard that helps you improve your driving so you can obtain a better rate.
You control coverage from the app without a middle man: Customers have complete control over their coverage plan through The Root app, without having to discuss changes with an agent. Policyholders can access and edit their plan at any time by simply opening the app on their smartphone. However, your premiums may change if you decide to make changes, but price differences will be shown to you before any permanent changes are made.
Five-minute claim submission: Root focuses on simplifying the process of claim submission by including every single step inside the app, including access to your insurance card.
Customizable coverage: The Root offers liability coverage, car coverage (with roadside assistance included in every policy), medical coverage and “full coverage” which includes bodily injury, property damage, collision and comprehensive. You can take their coverage quiz to get a recommended coverage plan or build your own based on the coverage options above.

Cost Rundown

The Root Insurance prices vary depending on your driving habits. Obviously, safe drivers who go through the driving test and pay attention to the Driver Scorecard will save the most. Reckless drivers will either pay a higher price or receive no quote at all, since driving habits is the number one factor in calculating coverage. Price also depends on your state’s minimum insurance requirements. There are various coverage levels like Root Base, Root Great and Root Premier. However, some customers have complained to the Better Business Bureau that their rates increase at the renewal date, or sometimes without warning.

Cheaper (or Free!) Alternatives

No matter what kind of deal you think you’re getting, it’s important to shop around with other car insurance companies to see if you can get a cheaper price somewhere else, if price is what’s important. Many well-known car insurance companies offer something similar to The Root, where your premium is based on how you drive. Here are a few estimated savings on usage-based programs with other insurance companies:

Company/Tool	Estimated Savings
Progressive Snapshot Test Drive	Average of $145
Allstate DriveWise	Average of 10-25%
State Farm’s Drive Safe & Save	Up to 15%
Esurance’s DriveSense	Varies
Nationwide’s SmartRide	Up to 40%
Liberty Mutual’s RightTrack	Average of 5-30%

The Competition

The Root isn’t the only company who recognizes the value of usage-based insurance. As listed above, there are other companies with similar tools that are helping policyholders save money. Here’s a breakdown of those programs:

Progressive Snapshot Test Drive: Snapshot personalizes Progressive policyholder rates based on their driving habits, with the average driver saving $145 at program completion. Drivers choose the mobile app or plug-in device, drive with Snapshot (typically over a six month period) and check progress in the app or online.
Allstate DriveWise: The DriveWise mobile app gives personalized driving feedback that could help young drivers develop safe driving habits. You can get cash back for just signing up then earn cash back every six months for safe driving.
State Farm’s Drive Safe & Save: State Farm claims to help policyholders save up to 30% on their car insurance using Drive Safe & Save. You can use your smartphone to earn a discount or your eligible OnStar-enabled vehicle.
Esurance DriveSense: DriveSense is free for anyone to use if you want to track your driving habits. But if you’re an Esurance policyholder, you get an instant discount just for enrolling with DriveSense. This app logs your driving, tracks driving patterns and behaviors, offers tips and provides weekly recaps. DriveSense requires eligible customers to log at least 50 trips for each term.
NationWide SmartRide: Nationwide policyholders earn a 10% discount just for signing up and can save up to 40% with SmartRide. You can participate in SmartRide using the mobile app or the device program and are rated on four factors: miles driven, hard braking and acceleration, idle time and nighttime driving.
Liberty Mutual RightTrack: Policyholders are guaranteed a discount just for signing up, but have the ability to save up to 30%. RightTrack is a device program and observes behaviors like braking, acceleration and nighttime driving.

What Others Are Saying

The Ways to Wealth weighs the pros and cons of The Root, and what’s left is a big thumbs up towards the company’s pricing model, but uncertainty as to whether or not the company has the money to pay for policyholder claims based on the company’s young age. This article also warns drivers that having a clean driving record may not be enough to obtain a low car insurance rate if you’re placed into a “bad demographic.”
The Zebra gave The Root four out of five stars regardless of being a newcomer in the car insurance market. This article claims that the signup process is very easy, but that potential customers who are sticklers for phone privacy may have issues with this process, since you have to enable settings on your phone so that the app can access certain information while you drive.

The Bottom Line

Whether or not The Root Insurance is right for you depends on your car insurance needs and whether or not you’re willing to wait a few weeks for a quote. If you’re truly a good driver with safe driving habits, The Root may be worthwhile. If not, you may want to consider other options. While coverage is simple, remember that The Root has the ability to save you upwards of 52% savings, that’s better estimated savings than any of the other usage-based insurance tools that are considered competition. The only way to really know is to download the app, take the driving test and start saving.

The post The Root Car Insurance Review 2019 appeared first on The Simple Dollar.

Source The Simple Dollar https://ift.tt/2n2CKH2

How much is renters insurance?

Moving into a new apartment can be stressful and expensive, and as a result, many tenants neglect to purchase renters insurance. But having renters insurance can be a lifesaver if your apartment gets damaged or destroyed. Renters insurance protects your personal possessions in the event of certain perils, such as fire, explosions or water damage, as well as theft and vandalism. Most renters insurance plans also cover tenants against liability from accidental injury to guests.

Most tenants assume that their landlord’s insurance will cover damage to their personal belongings, because they own the entire building. However, landlords have their own type of insurance that generally only covers the physical property, and personal property used to maintain the building –– not your personal belongings inside. Landlord insurance does include liability coverage, in the event that a tenant was injured on the property and the landlord was found to be at fault.

How much is renters insurance per month?

With any plan, renters insurance is among the cheapest insurance available. According to the Insurance Information Institute(III), the average cost of renters insurance in the United States is the following:

Monthly	Yearly
$16 per month	$188 per year

States with the highest yearly renters insurance premiums are the following:

State	Yearly Cost
Mississippi	$262
Louisiana	$249
Alabama	$242
Wisconsin	$132
Minnesota	$144
North Dakota	$114

Some insurance providers allow tenants to choose when they pay their renters insurance premium—monthly, quarterly or yearly. In many cases, providers will offer a small discount on the premium if the entire sum is paid in full for the year. If you choose to pay monthly, you might be required to pay a small processing fee on top of your monthly premium rate. Remember that the higher your deductible is, the lower your premium will be, regardless of your payment schedule.

Factors that influence the average cost of renters insurance

Deductible

If your possessions were damaged or destroyed, your deductible is the amount of money you would have to pay to replace them before insurance coverage takes over. The higher your deductible, the less you’ll pay each month for your premium. On the other hand, you’ll pay more each month if you opt for a lower deductible.

Type of building

The type of building also determines your renters insurance premium. For example, apartment dwellers usually pay less for renters insurance, whereas people renting single family homes or duplexes tend to pay more each month.

Types of renters insurance policies

When selecting a renters insurance policy, there are two main choices—cash value and replacement cost value. Let’s take a look at both policies, and what each covers.

Cash Value (CV)

With a CV policy, the insurance company will pay you what your belongings are worth today if they get damaged or destroyed in a qualifying event. The CV policy factors in depreciation, so you won’t get back the full cost of what you paid for your belongings in the first place. However, this policy has the lowest premiums.

Replacement cost value (RCV)

Under a RCV policy, the insurance company will pay you to replace damaged items with new ones that are of similar type and value. RCV does not include depreciation, so you’ll receive the same (or nearly the same) amount of money as you paid for an item originally. Because depreciation is not considered, you’re premium will be higher for a RCV policy.

Before choosing a renters insurance policy, start by creating a home inventory of your personal possessions. If you have a lot of items with a high monetary value, a RCV policy will be the best option. On the other hand, if you don’t have many belongings, you can probably opt for a CV policy and save money.

Factors that influence the average cost of renters insurance

If you’re thinking about purchasing renters insurance, it’s important to note that there are some factors that can influence the cost of your monthly premiums, beyond choosing a CV or RCV policy.

Location

The location of your home or apartment will impact how much you pay per month for insurance. If you live in an area that is more prone to extreme and potentially damaging weather events, expect to pay slightly more.

Deductible

Types of building

Frequently asked questions about renters insurance

Is renters insurance required?

Renters insurance is not required by law, but some landlords require tenants to have renters insurance before they start living in their property. If your landlord does require renters insurance, check your lease agreement for a provision that states how much coverage you need to have.

Is renters insurance worth it?

Renters insurance is one of the best investments you can make when living in a rental property. In the event that your personal possessions are damaged, destroyed, or stolen, having renters insurance saves you from paying to replace all of your items out of pocket. Renters insurance also protects you against liability for accidental damage or if someone gets injured inside your home or apartment.

How can I save money on renters insurance?

There are many ways to get discounts on renters insurance. Ask about raising your deductible, which will lower your monthly or annual premium. According to the III, a $1,000 deductible can reduce premiums by as much as 25%. Most insurance companies will provide a discount if you bundle your policies, so think about getting renters insurance from the same provider that you use for your life or car insurance. When setting up your payment schedule, opt to pay your premium for the year in full, which can save you money in the long run.

Am I covered if my roommate has insurance?

No. This is one of the most common misconceptions tenants have about renters insurance. Your personal belongings are not covered by your roommate’s renters insurance policy. In some states, it is legal to have multiple roommates on the same renters insurance policy, but it’s generally not advised. Sharing renters insurance tends to complicate claims, and when there’s a payout from the claim, roommates need to agree on how the money will be divided.

The post How much is renters insurance? appeared first on The Simple Dollar.

Source The Simple Dollar https://ift.tt/2lt11FG

New Home, New Expenses. Factor These 8 Costs in Your Budget

You’ve spent months — years even — saving up for a down payment for a house. You’ve budgeted meticulously, banking savings whenever you could to make homeownership possible.

After reaching that goal, you may feel like the pressure to budget and save is gone. But don’t get too comfortable.

Owning a home introduces a new set of expenses. Plumbing repairs, anyone? Taxes, fellow Americans? There’s more to homeownership than simply paying a mortgage instead of rent.

Here are eight homeowner expenses you’ll need to include in your budget.

1. Taxes

Cities and counties tax homeowners to help fund schools, road improvements and other public services. Your taxes are based on the millage rate and the assessed value of your home.

Property tax information is a public record, so you can look up how much previous owners were taxed in the past. However, keep in mind taxes can fluctuate from year to year as home values and millage rates change.

Many lenders fold tax payments into a homeowner’s overall mortgage payment. The portion of your monthly payment that goes toward your taxes is held in an escrow account until the bill is due. This takes the pressure off the homeowner to budget for taxes each month.

If your mortgage doesn’t include escrow payments for taxes (or you don’t have a mortgage), you’ll want to set up a similar, risk-free account where you deposit one-twelfth of your annual tax bill each month to save up.

2. Insurance

Homeowners insurance generally protects against losses or damages to your home and belongings, plus liability coverage for accidents that may occur on your property. What your homeowners insurance covers will differ based on your policy — as will the cost.

Older homes, those with amenities like pools and those in riskier areas such as on a waterfront cost more to insure. Depending on where you live, you may also be required to purchase an additional policy for flood insurance.

Pro Tip

Even if you aren’t required to get flood insurance — or additional coverage like earthquake insurance — you may opt to do so to protect against damage your homeowners insurance doesn’t cover.

Like taxes, homeowners insurance is often folded in your mortgage and held in an escrow account. If not, you’ll want to divide your annual insurance bill by 12 and put that amount aside monthly.

3. Utilities

You’ve probably been used to paying utilities as a renter, but you may find your expenses are greater once you move into your new home — especially if your square footage is significantly larger.

If any utility costs were previously folded into your rent payment, be prepared for separate bills.

Check service providers’ rates to help budget for these expenses. You can ask about average costs from the previous owners, though your usage may differ.

4. Maintenance and Repair Fund

Though you may not have to save as aggressively as when you were trying to come up with a down payment, personal finance experts suggest homeowners save 1 to 2% of their home value each year for maintenance and repairs.

A good place to keep these funds is in a high-yield savings account or money market account. You may not dip into these savings every year, but you’ll want to easily access this money when something needs fixing.

Alternatively, you could purchase a home warranty, which covers repairs to certain systems and appliances, like your HVAC system or your fridge. Weigh the costs of the warranty (plus any related service fees) against how much you would save on your own for future repairs.

5. Homeowners Association (HOA) or Condo Fees

If you live in a condo or neighborhood with a homeowners association, you get a bonus homeowner expense: HOA or condo fees. These fees are collected to cover expenses related to shared amenities, common space, neighborhood aesthetics or security.

These fees vary, but they can tack on a couple hundred dollars to your monthly housing expenses.

If you pay your fees once a year, set up a sinking fund and save up each month.

6. Pest Control

Gone are the days when you’d just call your rental office if you found ants invading your kitchen. Now that lovely task is on your plate.

You could go the do-it-yourself route and purchase pesticides, barrier treatments or traps from a home improvement store. But if there’s a family of rodents in your attic, you may want to call in the professionals. Pest control companies have expertise and more effective extermination solutions than what you can buy at the store.

Shop around for quotes from different companies to get the best deal. Many offer contracts for preventative maintenance if you want your home treated regularly.

7. Lawn Care

Lawn care is another task you’ll want to decide whether to do yourself or outsource. If you’re hiring a lawn care company, be sure to shop around for the best prices.

Pro Tip

Get recommendations on lawn care, pest control and home repair services from websites like Angie’s List, HomeAdvisor or Nextdoor.

If you go the DIY route, factor the cost of equipment and supplies in your budget. Some equipment may also include ongoing costs, like buying gas for your mower.

Time and energy are other expenses you’ll face, though it’s harder to determine a clear dollar amount.

While lawn care may seem like an aesthetic thing, your city— or HOA — likely has rules and regulations regarding maintenance. You could get fined for letting your grass grow too high.

8. Security System

A security system is optional, but it’s an expense you may give a second look once you move into your own home. Your house is a major asset and you’ll want to protect it — along with your family and belongings.

When considering security systems, budget for the initial cost of buying and installing the system, plus the monthly cost for monitoring.

At the bare minimum, when you move into a new house, you’ll want to pay to get all the locks changed.

Facing Homeowner Expenses Responsibly

Before buying a house, gather cost estimates and quotes and create a mock budget to make sure you’re comfortable with all your new homeowner expenses.

Pro Tip

Taking a HUD-certified homeowner course prior to buying a home can help you prepare for the financial responsibilities of homeownership.

Don’t neglect the costs involved with moving either. A truck rental, cans of paint and purchasing furniture adds up.

This laundry list of expenses isn’t meant to rain on your parade. Buying a home is a joyous occasion, but you ought to be prepared to handle any storms that come your way. When the housewarming party is over, you’ve still got saving to do.

Nicole Dow is a senior writer at The Penny Hoarder. She is in the process of buying her first home.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

source The Penny Hoarder https://ift.tt/2n07c4g

Overcoming Financial Self-Sabotage

Most of us have committed some form of financial self-sabotage at some point or another in our lives, and those who haven’t can easily understand the idea.

We make a series of small, positive financial moves and feel like we’re in a good place. We’re moving forward on the medium sized and big goals we have for ourselves. Perhaps our debts are shrinking noticeably, or maybe we’ve bolstered the amount of money we’ve accumulated in our savings accounts, or maybe it’s simply the fact that we’ve managed to get caught up on our bills and out of constant danger of over drafting.

When that occurs, a few things can often happen.

Sometimes, we might “celebrate” in a way that undoes the positive financial steps we’ve taken. For example, a person who manages to pay off a credit card might celebrate by making a significant but non-essential purchase, which immediately puts a balance right back on that card.

Often, people simply revert back to their old behaviors, which means that they go right back to overspending and eventually dig themselves right back into the financial hole that they worked so hard to get out of.

In any case, financial self-sabotage is a real thing. A run of good behavior is concluded with a few detrimental choices, which results in much (or all) of the benefit of the good behavior vanishing into thin air, leaving the person back where they started and with a sense that all of that effort was for nothing.

For many people, this becomes a cycle, and it’s a cycle that pops up in a lot of self improvement. You feel like you need change, you do a bunch of things to change, you feel good about the changes, you’re tempted into old behavior patterns or splurges, you give in, you go right back to where you started, and often the cycle repeats itself.

The question is, how do you break out of this cycle? How does a person stop this cycle of positive moves and self-sabotage in order to be able to make continuous progress toward the financial life they want to have?

There are a lot of approaches and tools for this. Here are some that have worked for me with both financial and non-financial patterns of self-improvement in my life.

Aim for Small Permanent Changes, Both Adding Positives and Eliminating Negatives

Rather than going for the big, flashy changes or tons of changes all at once, aim instead for a small number of little changes that can be absolutely permanent and then add to them slowly over time.

For example, many people who want financial change in their lives will go on a huge spending freeze for a while, not buying anything other than bare essentials. Sure, that’s an effective short term strategy, but in doing so you’re changing so many habits and routines in your life all at once that there’s bound to be a backlash. This hard rule will eventually start to crumble.

A much better approach is to pick five or so minor changes that you think you can permanently stick to, and stick to them. For example:

Buy only store brands for food staples, household supplies, and toiletries (except for when the store brand is specifically problematic). If you’re buying ketchup, buy the store brand, not Heinz. If you’re buying toilet paper, buy the store brand, not Charmin. If you’re buying dishwashing detergent, buy the store brand, not Cascade. If you’re buying trash bags, buy the store brand, not Glad. Only revert from this if there’s a specific problem with the store brand version of the product.

Make a slow cooker meal once a week and eat the leftovers. Once a week, make a big slow cooker meal, like a big stew or soup or casserole or roast, and enjoy it for dinner that evening instead of going out. Make plenty so you can save the leftovers and have them for lunch or dinner on subsequent days. You can even designate a “slow cooker day” on one day of the week. (For us right now, this is usually Tuesdays and Thursdays.)

Cut one of your streaming services and rotate them. Instead of being subscribed to multiple streaming services at once, cut at least one of them and then focus on binge-watching the content on the one or two you’ve kept. Then, move to others once you feel you’ve watched everything of interest to you.

Adopt some simple rules for enjoying and cultivating your collections, not just accumulating them. If you have a big overstuffed bookshelf, don’t add another item to it until you eliminate an item to make room for it. The same should be true of any collection. Your collection of spices should fit in a reasonably sized spice rack (unless you’re a professional chef or something). Your tools should fit in a reasonably sized tool chest (unless you’re a professional mechanic or carpenter or something like that). You get the idea. Put a clear limit on the size of your collections and cultivate the collection within that boundary. Encourage yourself to actually use the items so you don’t feel as bad when you cycle them out and replace them.

Give up beverages besides water. This is a shift that’s both good for your health and good for your wallet. Drinking soda, alcoholic beverages, teas, and so on add to the cost of simply getting water into your body. It’s a very simple switch that can easily become a very normal routine.

If You Do Make Big Changes, Choose Permanent Ones That Can’t Easily Be Rolled Back

Choosing to go on a big spending freeze is a huge change, but it’s one that you can easily roll back whenever you feel like it, and thus it’s one that’s begging for some self-sabotage.

If you’re wanting to make a big change in your financial life, choose a big change that isn’t nearly so easy to roll back. For example:

Move to a less expensive residence. This might mean a smaller place with lower rent, or a smaller house with a smaller mortgage. This not only reduces your direct bills, but also reduces things like utilities, property tax, insurance, association fees, and so forth.

Sell your car. If you’re in a situation where you can get around via mass transit, bicycles, scooters, on foot, or via other means, selling off your car means that you’re committing fully to those other modes of transportation because, again, the path of least resistance keeps you away from simply buying a car if you don’t absolutely need one.

Apply for other jobs in your field and accept one. Once you’ve polished up your resume and sent out those applications, they can’t be pulled back. It drastically lowers the resistance to getting a new job that pays better. Of course, once you interview and accept, you’re heading down a new path.

Replace all of your light bulbs with LEDs. If you have any incandescent bulbs still in your home, change them all over to LEDs. This will reduce your energy bill going forward and you won’t have to replace bulbs for a very long time.

Air-seal your windows and install some weatherstripping around drafty doors. This will reduce your heating and cooling costs going forward by preventing heat escaping in the peak of winter and preventing heat from coming in during the peak of summer. Again, this isn’t something you’ll easily be able to undo going forward.

Reward Yourself with Non-Financial Incentives

If you feel like you’ve made a ton of progress toward your goal and you’ve been behaving well, it’s okay to reward yourself in some fashion. Just be mindful of what kind of reward you’re giving yourself and make sure that it doesn’t roll back your progress toward the goal. In other words, find rewards that revolve around resources in your life that aren’t related to what you’re trying to change.

For example, if you’re making financial changes, you’re probably going to want to avoid rewards with financial costs. Instead, consider these other types of rewards.

Give yourself some uninterrupted free time. Block out an entire day to simply do something fun that doesn’t cost money. Spend a day reading. Spend a day binge-watching a Netflix series. Spend a day going on a hike. Spend a day playing an epic boardgame. Spend a day going on a 50 mile bike ride. Give a big block of time over to something you enjoy that you don’t normally give adequate time to.

Sleep in. One of my favorite personal rewards is, whenever possible, I let myself sleep in without an alarm, waking up naturally based on when my body tells me to. It feels incredible, but it usually means I have to plan ahead and prioritize it a bit. Give yourself that reward on a Saturday and/or Sunday after a long work week, as a reward for great financial and professional choices all week long.

Bake a giant batch of cookies or make a few loaves of homemade bread. These kinds of indulgent homemade foods can usually be made incredibly cheaply, but it’s something that we don’t often take the time to do. Let yourself have that time. Work the dough with your hands, smell the cookies or bread baking in the oven, and enjoy that delicious taste.

Hit the library and check out something purely fun. Find a goofy comedy or a page-turner from an author you’ve always enjoyed, check them out, and take them home with you. Give yourself a laugh or allow yourself to get lost in a book. It’s free, after all.

Start a “brown bag” club. In a previous career moment, I was part of a “brown bag” club where people would gather and eat their lunches that they brought from home together. It provided a lot of social value and professional networking without the cost of going out for lunch. Put some time into getting this started at your own workplace. Look for people in your workplace who “brown bag” and start a “brown bag” lunch group.

Make other positive lifestyle changes. Perhaps increased financial stability means you can reward yourself by finally taking the risk to switch to a new job, away from the one that’s driving you crazy. Maybe it means you can finally step away from a relationship that’s dragging you down.

Automate the Money You Saved from the Cut in Spending So You Don’t Just Spend It Elsewhere

If your financial changes represent clear-cut improvements in the amount of money you’re spending each month, don’t just let that money sit around to be gobbled up by new expenditures. Instead, put that money to work as quickly as possible by automating some good financial moves.

If you’ve cut 1% of your overall spending, for example, head to your HR office at work and bump up your 401(k) by 1%. Alternately, start an automatic transfer from your checking to your savings account equal to 1% of your spending so that money is set aside for emergencies.

This kind of automation takes the decision as to what to do with that money out of your hands and out of the heat of the moment. It transforms your good habits and good financial decisions directly into the building of a stronger financial foundation for yourself and your family while also taking away the temptation to spend idle money.

Eliminate Bad Influences

Many people self-sabotage due to the negative influences of people and things around them. They make really great choices on their own, for example, but when a particular friend is nearby or when they go to a particular place, their choices become disastrous. Those types of things are negative influences, and whatever the source of that influence is, it’s contributing a strong negative into your life that you should strongly consider eliminating.

Here’s how to delve into the issue of bad influences.

Carefully examine situations where you tend to make bad financial choices. Where do you make those choices? Who is with you? What devices are you using? What apps? What have you been reading recently? What you’re looking for are the things that “nudge” you into those poor choices. You’re especially looking for things that pop up again and again.

Cut those things out of your life – or at least reduce their influence. If you have a friend that is only around when you’re spending money, accentuate other friendships. You don’t have to end this friendship, but make it a point to spend plenty of time with other friends. If a particular website is tempting you to buy, block that website. If a particular Instagram profile is tempting you, unfollow that profile. If you spend money whenever you go to the bookstore, stop going to the bookstore (maybe hit the library instead).

You don’t have to quit those influences cold turkey – though that’s often a good approach. Rather, just dial down the influence from that source and find other things that influence you in a much more positive direction.

If It Feels Overly Constraining, Get Rid of the Tightest Constraints

One of the biggest reasons people give into self-sabotage is that they begin to really resent the restraints they’ve put on themselves. They feel like they’ve lost some degree of freedom in their lives, or they feel like they’ve lost some element of their life that they really enjoy.

If you find that this is true for you, rather than letting that resentment build until it becomes self-sabotaging, address it immediately. If you make ten habit changes and find two of them are making you uncomfortable, undo those two. The other eight are still there and are still moving you in the right direction without feeling awful.

The biggest unnecessary expense in my life is my hobby spending. I’m very aware of that and I try lots of methods to keep it at a reasonable level, but I also know that if I constrain it too much, I will end up resenting the constraints after a while and end up making worse choices over the long run. Instead, I give myself some breathing room in that area. I give myself a fairly healthy monthly budget for hobbies and, as long as I stay within that budget, I’m in pretty good shape. I find that when I try to shrink that budget significantly, particularly when I’m trying to make a permanent change, I tend to feel frustrated, and that tends to lead to financial mistakes.

The same thing is true when dieting. If you find yourself resenting the rules of your diet, that diet is about to end. Instead of dieting, then, just figure out a few permanent changes you can live with and don’t start eating more in other areas. Give up soda, for example, or switch to skim milk instead of coffee creamer.

Listen to yourself. Know when you’re feeling frustrated and overly constrained, and loosen that specific constraint rather than blowing all progress to smithereens.

Final Thoughts

Financial self-sabotage is a reason that many people end up in a cycle of getting ahead a little and then falling back into the same financial hole, over and over again. There are a lot of causes for it and a lot of strategies for addressing those causes.

If you find yourself regularly sabotaging your own financial progress, try some of these practices. You may just find that they lead you down a better, more permanent path.

Good luck!

The post Overcoming Financial Self-Sabotage appeared first on The Simple Dollar.

Source The Simple Dollar https://ift.tt/2nvGD7n

The Best Virtual Private Servers (VPS Hosting)

When most people launch a new website, they use a shared hosting service to meet their web hosting needs. That’s because shared hosting is the most basic and cost-effective way to host a beginner website.

But as your site scales, its hosting needs are going to change. That’s when it’s time to start looking for a virtual private server—better known as VPS hosting.

VPS hosting is a step above shared web hosting. With a virtual private server, you’ll still be sharing a single server, but you’ll be sharing it with fewer websites.

Here’s how it works.

Basically, a virtual private server is one server that’s divided into separate virtual machines. Each virtual server can be run with custom configurations and separate operating systems.

VPS hosting comes with dedicated server resources as well. So even though you’re sharing a single server with other websites, your RAM and CPU are independent of those sites.

A virtual private server is best for those of you who want the benefits of a dedicated server, but don’t want to pay the high costs associated with dedicated hosting.

Here’s a visual representation that shows the difference between shared hosting, VPS hosting, and dedicated servers.

Hosting Compared

Most of you probably don’t need a dedicated server. But you’ll eventually outgrow your shared hosting plan.

Upgrading from a shared plan to a virtual private server will improve the speed and performance of your website. Since you won’t be sharing resources, your site will be more responsive on the user-end. VPS hosting is more equipped to handle traffic spikes as well.

For more information on how VPS stacks up against other hosting options, check out my guide on the best web hosting providers.

Virtual Private Server Reviews

Finding a VPS hosting plan can be intimidating. There are so many hosting providers out there offering VPS options. Taking the time to research all of them would take days.

Fortunately for you, I’ve already taken the time to do all of the research. I’ve gone through dozens of VPS hosting plans and narrowed down the top options for you to consider.

These are the top 7 VPS hosting providers:

I’ve included a detailed review for each one of these services below. I highlighted their plans and pricing while explaining what makes each one a top VPS hosting option. You’ll also learn about some of the potential downsides or weaknesses of these providers as well.

Bluehost

Bluehost is an industry leader in the web hosting space. Their VPS plans offer a wide range of hosting options, to accommodate the needs of nearly every website.

The reason why Bluehost stands out as a top choice to consider is because their virtual private servers offer both power and flexibility. They allow multi-server management, meaning you can add more space to your plan at any given time.

This is ideal for websites that need the ability to scale at a moment’s notice, without any delays or downtime. You’ll be able to accomplish this without any assistance from a Bluehost administrator, directly from your advanced cPanel.

Here’s an overview of Bluehost’s plans and pricing:

Standard VPS

Starting at $19.99 per month
2 CPU cores
30 GB of SSD
2 GB of RAM
1 TB of bandwidth

Enhanced VPS

Starting at $29.99 per month
2 CPU cores
60 GB of SSD
4 GB of RAM
2 TB of bandwidth

Premium VPS

Starting at $49.99 per month
3 CPU cores
90 GB of SSD
6 GB of RAM
2 TB of bandwidth

Ultimate VPS

Starting at $59.99 per month
4 CPU cores
120 GB of SDD
8 GB of RAM
3 TB of bandwidth

As you can see, Bluehost offers pricing and resources for websites of all shapes and sizes.

Even if you’re looking for an entry-level VPS plan, I’d still recommend starting with the Enhanced VPS as opposed to the Standard. For just $10 more per month, you’ll get double the SSD, RAM, and bandwidth.

Although it’s worth noting that the prices listed above are promotional rates only. You’ll end up paying $29.99, $59.99, $89.99, and $119.99, respectively, when your plan renews.

All Bluehost virtual private server plans include 24/7 support and a 30-day money-back guarantee. For a fair price, you’ll benefit from plenty of resources, support, and uptime compared to other options on the market.

InMotion

Unlike other web hosting providers that are best-known for shared hosting or dedicated servers, InMotion specializes in VPS hosting.

It’s a top choice to consider whether you’re upgrading from an existing plan or looking to host a brand new website.

One of the biggest differentiators of InMotion is that they offer traditional managed VPS hosting as well as Cloud VPS hosting. Altogether, they have six VPS plans (three for each category).

Let’s take a look at each one to see what’s best for your website.

InMotion Managed VPS Hosting

The managed plans are ideal for business owners, agencies, and resellers. Each plan offers free server management, updates, and free site migrations.

You’ll also benefit from a resource monitoring dashboard, unlimited domains, unlimited email accounts, and unlimited MySQL databases.

VPS-1000HA-S — Starting at $29.19 per month
VPS-2000HA-S — Starting at $47.39 per month
VPS-3000HA-S — Starting at $69.34 per month

To get these low introductory rates, you’ll need to sign up for a 2-year plan.

All plans are ecommerce optimized and come with optional root access for those of you who want more advanced control over your settings.

InMotion Cloud VPS

The cloud plans offered by InMotion are best for developers and system administrators. That’s because each plan comes with full root access, including SSH keys, which gives you total control over customization.

As a developer, you’ll essentially get a blank-slate to customize a VPS to meet the exact needs for your website. You can also code in the language of your preference, like Java, Ruby, and other population choices.

InMotion Cloud VPS provides enterprise-level hardware, with SSD servers that are 20x faster than the competition.

Cloud VPS-1000 — Starting at $21.04 per month
Cloud VPS-2000 — Starting at $42.24 per month
Cloud VPS-3000 — Starting at $69.34 per month

To get the best introductory rates for cloud VPS, you need to commit for one year, as opposed to two years with the managed plans.

As you can see, the pricing for the managed plans and cloud hosting plans are very similar. So the biggest difference between the two is basically how much control you want over the server.

Unless you’re a developer, I think that the majority of you should lean toward the managed plans, just based on the simplicity.

LiquidWeb

LiquidWeb isn’t one of the most well-known hosting providers on the market, but they still offer excellent hosting solutions.

All LiquidWeb VPS plans are fully managed. They manage your hardware and the network. Their administrators also handle all security updates and patches as well as support for the operating system and all software.

Unlike some of the other hosting providers we’ve seen so far, LiquidWeb doesn’t have any special or fancy names for their plans. You’re essentially paying for your resources, starting with RAM.

2 GB RAM — $29 per month
4 GB RAM — $49 per month
8 GB RAM — $69 per month
16 GB RAM — $129 per month

All of these prices are based on annual contracts. You’ll pay significantly more if you choose to go month-to-month.

LiquidWeb has 2-year plans available upon request. But you’ll need to talk to their customer service team to find out those special rates for your website.

Speaking of customer service, the support offered by the LiquidWeb team is exceptional. They are available 24/7 via phone, email, and live chat.

All LiquidWeb virtual private servers have 10 TB of bandwidth, which is the most we’ve seen so far. The 16 GB of RAM plan has up to 200 GB of SSD disk space, which is also the highest we’ve seen so far.

Most VPS providers don’t offer a 16 GB plan. I can’t imagine most of you will need it, but for those of you who do, this is where I recommend getting it.

To put that into perspective for you, 16 GB of RAM is double the amount of the highest plans offered by both Bluehost and InMotion.

HostGator

HostGator is another popular name in the world of web hosting. While they are best known for their low-cost shared hosting plans, they also have virtual private servers that are worth considering.

HostGator offers competitive VPS pricing, although their plans aren’t the lowest that we’ve seen.

Snappy 2000

Starting at $29.95 per month
2 GB of RAM
2 CPU cores
120 GB of disk space
1.5 TB of bandwidth

Snappy 4000

Starting at $39.95 per month
4 GB of RAM
2 CPU cores
165 GB of disk space
2 TB of bandwidth

Snappy 8000

Starting at $49.95 per month
8 GB of RAM
4 CPU cores
240 GB of disk space
3 TB of bandwidth

The prices are fair for the resources. But like most hosting providers, these introductory rates will increase when your plan renews.

However, HostGator gives you the option to lock in these low rates for the longest time compared to other options we’ve seen so far. You can pay these intro rates for 36 months.

But with that said, the price increases are the most significant compared to other providers as well. The introductory rates are all roughly 75% cheaper than the actual rates.

HostGator stands out with its reliable and multi-layer security network. This enhanced protection paired with the ability to easily scale your resources is what makes HostGator a top VPS choice on our list.

Just keep in mind that their customer service and support falls a bit short compared to other providers.

HostPapa

If you’re looking for an enterprise-grade virtual private server, HostPapa needs to be toward the top of your list.

With up to 12 CPU cores, 24 GB of RAM, and 1 TB of SDD, HostPapa’s capacity is unmatched.

Here’s a closer look at all of their plans and pricing.

So for those of you who want as many resources as possible, you’ll have to pay top dollar to get it. The Extreme VPS plan starts at $249.99 per month and renews at $299.999 per month.

It’s safe to say that’s a huge jump from their lowest price-point, starting at just $19.99 per month.

For those of you who are developers or more advanced, you’ll have root access to make customized changes.

Another top benefit of HostPapa is that you can increase your power and resources at any time. They also give you the option to manage multiple servers simultaneously. Regardless of your plan, you can always add an extra server directly from the HostPapa dashboard.

So for those of you who are planning to scale significantly, you won’t have to worry about outgrowing your VPS.

All HostPapa VPS plans are ecommerce optimized and provide enhanced security for online stores.

HostPapa is a top choice for companies who want to build a web-based app as well.

For technology and features that are so advanced, the cPanel interface offered by HostPapa is extremely easy to use. You can monitor all of your resources, and make any adjustments in real-time with just one click.

If you’re currently using another hosting provider, HostPapa offers a free domain transfer and free VPS migration. They also have outstanding 24/7 support.

With all of this in mind, I’d only consider using HostPapa if you need a plan with the most possible resources. Otherwise, you can get comparable plans at a better rate elsewhere.

iPage

If you’re looking for a low-cost VPS plan, look no further than iPage. With plans starting as low as $19.99 per month, iPage offers a quality service at an affordable rate.

iPage has been around for more than 20 years. Over 1 million sites are using this platform for web hosting. So if you decide to go with one of their VPS plans, you know that you’re getting it from a reputable provider.

Let’s take a closer look at their plans.

Basic VPS

Starting at $19.99 per month (renews at $24.99)
1 CPU core
1 GB of RAM
40 GB of disk space
1 TB of bandwidth

Business VPS

Starting at $47.99 per month (renews at $59.49)
2 CPU cores
4 GB of RAM
90 GB of disk space
3 TB of bandwidth

Optimum VPS

Starting at $79.99 per month (renews at $99.99)
4 CPU cores
8 GB of RAM
120 GB of disk space
4 TB of bandwidth

As you can see, these are the lowest prices that we’ve seen so far, even after the full-price renewal rates kick in.

iPage also specializes in web design. So for those of you who are building a new website from scratch and want to start with a cheap VPS hosting plan, iPage is a top choice.

Even with these low rates, you’ll still benefit from quality 24/7 support. You just won’t get the capacity and resources offered by some higher-tier providers.

A2 Hosting

A2 Hosting stands out because they offer both managed and unmanaged VPS plans.

Typically, unmanaged VPS plans with root access and custom features come at a higher price point. But not with A2 Hosting.

Experienced developers can get an unmanaged virtual private server for as low as $5 per month. Although with just 20 GB of storage and 512 MB of RAM, this entry-level plan likely won’t meet your needs.

Here’s a closer look at A2’s VPS plans:

Unmanaged VPS Plans

Entry — Starting at $5 per month
Mid — Starting at $10 per month
Elite — Starting at $15 per month

With the unmanaged plans, you can configure your server preferences for disk space, CPU, memory, and bandwidth. Obviously, any adjustments will impact the price.

Managed VPS Plans and Core VPS Plans

Power — Starting at $25 per month
Prestige — Starting at $35 per month
Pinnacle — Starting at $50 per month

The only difference between the Managed plans and Core plans is that the core plans come with root access. However, you won’t be able to configure your server the same way you would if you select an unmanaged plan.

Overall, A2 is a great choice for developers who want complete control and customization over their VPS at an affordable rate. For traditional managed hosting, I’d probably look elsewhere.

With that said, A2 Hosting has one of the best customer support teams on the market. So if that’s something that you prioritize, it’s worth taking a closer look at their plans.

How to Find the Best VPS Host For You

Now that you’ve had a chance to look at some specific VPS plans, it’s time to determine the best possible choice for you and your website.

To make things easier, your decision should be based on two main factors.

What resources do you need?
How much are you willing to spend?

In most cases, price and features will go hand-in-hand. If you need the highest possible RAM, disk space, and storage, then you should expect to pay higher prices.

Aside from that, you could lean toward one provider or plan over another based on other features like customer support, security, and the ability to scale.

With all of that in mind, I’ve put each VPS provider above into a “best for” category. Use can use list this as guidance to steer you in the right direction.

Bluehost — Best for power and flexibility at a reasonable price.
InMotion — Best cloud VPS plans.
LiquidWeb — Best fully managed VPS with high memory and storage plans.
HostGator — Best for locking in low introductory pricing rates.
HostPapa — Best enterprise-level VPS plans with the highest available resources.
iPage — Best cheap VPS plans.
A2 Hosting — Best low-cost unmanaged plans for developers.

As you can see, each review on our list stands out for a different reason. So I’m sure the needs of you and your website will fit somewhere into the categories above.

Virtual Servers Compared to Other Hosting Options

Before you finalize your decision on a VPS hosting plan, you need to make sure that a virtual private server is your best option.

If you’re creating a new website from scratch and don’t plan on having too much traffic for a long time, then shared hosting will be your best bet.

For those of you who want complete customization over your server and expect 100,000+ visitors each month, then you might want to consider a dedicated server. You can refer to my guide on the best dedicated hosting plans for more information on this.

VPS hosting is for everyone else who falls in the middle.

So if you’ve outgrown your shared plan but don’t need the resources offered on a dedicated server, then a virtual private server will be perfect for your website.

As a reminder here are my top picks for the best VPS hosting.

Source Quick Sprout https://ift.tt/2nvCYq9

Number of pension savers hit by tax charges rockets

The number of people paying charges for going over the pension allowance has rocketed by 11,000% in the last 10 years

Stephen Little Thu, 09/26/2019 - 14:12

The number of savers hit by pension allowance charges has rocketed in the past year, new figures show.

More than 37,000 people were hit with annual allowance charges in 2017/18, double the number recorded in the previous year, according HM Revenue and Customs (HMRC).

The data shows that 26,550 people have reported contributions worth £812 million over the annual allowance.

This means that on average, those above the allowance face paying tax on an excess contribution of around £30,600.

The number of people reporting a breach has gone up by more than 11,000% in the past decade from 230.

Some £173 million has already been paid by over 10,000 savers in annual allowance charges in 2017/18.

Pension experts have blamed the rise in breaches on the taper introduced in 2016. This meant that anyone earning over £150,000 had the amount they can save into a pension each year reduced.

Tom Selby, senior analyst at AJ Bell, says: “The staggering impact of the Treasury’s pension tax grab have been laid bare by today’s figures.

“Twice as many people were clobbered with an annual allowance charge in 2017/18 compared with the previous tax year, with hundreds of millions snatched from the grasp of hard-working savers.

“The culprits behind this spike in pension tax are almost certainly the taper, which lowers the annual allowance for high earners, and the money purchase annual allowance (MPAA), which penalises those who take taxable income from their retirement pot.”

Annual limit on pension contributions

The annual allowance is based on your earnings for the year and is capped at £40,000.

It is a limit to the total amount of contributions that can be paid to defined contribution pension schemes.

The lifetime allowance is a limit on the amount of pension benefit that can be drawn from pension schemes whether as a lump sum or retirement income and caps total benefits at £1,030,000 (in the 2018/19 tax year).

Lifetime allowance

The total tax taken from the lifetime allowance tax charge has increased from £13 million in 2006/07 to £185 million in 2017/18.

Most of the increase has taken place since 2012 when the government started cutting the lifetime allowance.

In total, 4,550 pension savers were taxed for breaching the lifetime allowance – up from 36% the previous year.

Andrew Tully, technical director at Canada Life, says: “The lifetime allowance is an arbitrary tax which penalises individuals who have enjoyed good returns on their investments.

"There is also a significant disparity in the way benefits are measured against the lifetime allowance depending on whether the individual is a member of a defined benefit or defined contribution scheme.

“With a relatively low cap on contributions to pensions of £40,000 a year, and less for higher earners, the government should consider scrapping the lifetime allowance.

"This would massively simplify pensions for schemes, providers and, most importantly, customers, by removing a huge amount of complexity around areas such as benefit crystallisation events.”

Source Moneywise - 29 years of helping you with your finances https://ift.tt/2nysaaX

How Your Roommate Could Wreck Your Credit and Your Finances

Whether you’re finally ditching mom and dad’s place for the very first time or you’re venturing away from the dorms, moving into your first apartment is exciting… and expensive.

So it’s no wonder that many young, urban apartment dwellers rely on roommates to make the situation more affordable.

Of course, living in a full house isn’t always easy. And as frustrating as it is to do dishes that aren’t yours or put up with loud music late at night, when it comes to your finances, things can get downright ugly.

Fortunately, an ounce of prevention can be worth more than a pound of cure if you choose a trustworthy roommate and establishing ground rules from the get-go. And that means understanding what can go wrong — and what can go right.

Here’s what you need to know about how roommates can affect your credit, and other financial considerations to keep in mind while you’re navigating the big move.

3 Ways Roommates Can Go Wrong

A roommate or two can mean lower costs and constant dinner companions… but they can also lead to issues in a number of ways.

1. Sharing a Lease

Anyone who’s so much as looked at a Craigslist housing ad in the past decade will likely breathe a sigh of relief at the idea of splitting the cost of rent, particularly in densely populated (but desirable) cities like New York or San Francisco.

But sharing a lease can also be problematic if your new flatmate doesn’t pull their weight.

First, there’s the problem of qualifying for the lease in the first place. If your landlord decides to pull credit and background checks for all proposed tenants, you might get rejected for your roommate’s past infractions — even if your history is squeaky clean.

And once you do get accepted, your roommate’s sphere of influence is only just beginning. Because if you’re both on the lease and they don’t pay up, you could risk being evicted if you can’t make up their share.

And getting evicted is more than just a serious inconvenience. Although an eviction itself doesn’t show up on your credit report, eviction-related information can.

For example, if your landlord takes you to court and a judgment is issued against you, that judgment will have a place in your credit report’s public records section for up to seven years — and likely cause future would-be landlords to ask ask for an explanation, if not blackball you entirely.

Similarly, your roommate decides to move out early, you could be left footing the entire rental price… that is, if your landlord allows you to stay at all. A breach in the rental contract by any tenant could give your landlord the right to end the agreement altogether, which means you could find yourself facing your own unplanned move.

2. Splitting Utilities

Aside from the lease, there’s also the issue of keeping the lights on — and the water, internet and natural gas, if you’ve got it.

And while most utility companies don’t report to the major credit bureaus, if you fall seriously behind and the account goes to collections, that could definitely impact your credit.

There’s no one-size-fits-all answer to the question, “What does an account in collections do to my credit score?” The amount your score will drop depends on how high your score was when the collections attempts started, as well as how much money you owe.

That said, having an account in collections does almost always drop your score, and often substantially — and that’s not to mention the day-to-day frustration of a collections agency calling you, emailing you, and sending you letters nonstop.

It’s important to pay attention to whose name the utilities are in… though either scenario has its risks. If the utilities are in your name, it’s your credit report on the line if your roommate fails to cough up their portion. And if they’re in their name, you could end up without power or water, even if you fork over your share.

It’s equally important to understand what happens if you or your roommate moves out early. You don’t want to be stuck paying for services at an apartment you no longer live in, and you definitely don’t want your access to water and power to be controlled by an ex-roommate you might not be able to contact easily.

3. Paying for Damages

You might be the quiet type, content to spend your Saturday nights with your nose in a book. But if your roommate gets rowdy (or invites a bunch of people over who take the opportunity upon themselves), you could still be responsible for the damages that result.

That could mean forgoing your security deposit (which is already unfun, considering they often match a full month’s rent), or even being financially culpable for repairs above and beyond that amount. Even seemingly simple repairs can be costly, not to mention the legal trouble you’ll end up with if your landlord sues.

How to Protect Yourself if Roommate Won’t Pay Rent or Other Bills

As scary as all this may sound, don’t get us wrong: Having a roommate or three can be a great way to minimize your cost of housing, which is often the single largest line item in a budget.

And in all the ways your roommates can have a negative effect on your credit in the worst-case scenario, they also stand the chance to boost it: You’ll find it a whole lot easier to make on-time, in-full payments when you’re not responsible for the entirety of the cost.

So how can you avoid a ruinous roommate situation?

For one thing, you want to screen your roommates carefully — even if you’re considering moving in with old friends. (In fact, in many cases, close friends make poor roommates; it can be more difficult to set serious boundaries when you’re concerned about hurting one another’s feelings.)

These days, there are lots of ways to pretty thoroughly vet a potential roommate online, if only through social media, but if you want to get really serious, you could ask for a background check of your own.

You might also try asking your landlord if it’s possible to set up separate lease agreements, which will build in some protection against your being evicted if your roommate won’t pay rent or being responsible for your roommate’s poor behavior.

But when push comes to shove, there’s always some risk involved, so be sure to set a clear game plan and have those difficult “what-if” conversations upfront. After all, it may take an awkward hour or two to set up clear boundaries… but that black mark on your credit report could last for years.

Jamie Cattanach’s work has been featured at Fodor’s, Yahoo, SELF, The Huffington Post, The Motley Fool and other outlets. Learn more at www.jamiecattanach.com.

source The Penny Hoarder https://ift.tt/2mXukRe