This Mom Earned $27,000 With Her Blog in a MONTH. Here’s How She Did It

When Abby Lawson was 28 years old, she was a stay-at-home mom to two young boys.

And like many women, she loved her family — but couldn’t help wanting something more.

“I needed a project that wasn’t all about my kids,” she says. “Something I did for me.”  

So, at an anniversary dinner with her husband, she sheepishly revealed her desire to start a blog.

Lucky for both of them, he was supportive — and nearly four years later, that little project is earning more in a single month than many people make in an entire year.

Here’s her story.

Just a Girl… and Her Blog

The name of Lawson’s site is Just a Girl and Her Blog.

Why?

Because when she started in January 2013, she couldn’t even decide what to write about. She just knew she had an English degree and writing skills she wasn’t using.

“At the beginning, [my posts] were all over the board,” she says. “I kind of had to write about everything and figure out where that intersection was of what I loved and what my readers responded to,” she says.

Eventually, she found it: home decor, with a focus on organization.

She’d always been organized and creative. In her own words, “I like to make things and make things look beautiful.”

With both her boys still at home, she worked during their naps and after bedtime.

“I didn’t get very much sleep myself,” she admits with a laugh. But she kept at it, because it energized her.

“When I was putting my boys to bed, I could feel my adrenaline start pumping,” she says.  

At first, her husband thought she was crazy, but he soon changed his mind…

How This Little Blog Earns More Than $25K per Month

Up until January 2015, things were chugging along smoothly. Then, two years after Lawson launched her blog, her husband lost his job in the oil and gas industry.

Although it was “terrifying,” they decided he wouldn’t seek another job — and would instead devote his full attention to helping grow the site.  

“All of a sudden, everything for our entire family rested on this little blog that I started kind of by accident,” she says.

But in the end, she says his layoff was “the best thing that could’ve ever happened.” When his business sense was added to her tenacity, the blog exploded…

Like really exploded: In their latest income report, they reveal a profit of $27,241. In a single month.

So far this year, they’ve grossed more than $340,000. (And there are still a few months to go!)

Their income stems from the sale of informational products — about starting a blog, writing an ebook, simplifying your life and making your home paperless — and affiliate links.

When asked about her recipe for success, Lawson says: “We try to get better, even when we don’t feel like it… It’s just putting in the time and putting in the work.”

So You Wanna Start a Blog?

Before running off to start your own blog, Lawson wants you to know: As lavish as it may look from the outside, it’s no cakewalk.

“Everybody makes it look so easy, like there are these beautiful pictures of food or homes or whatever and it looks like I just woke up and snapped this,” she says. “But really every post out there represents hours and hours of work.”

Think you’re ready for the challenge?

The first step is to purchase a domain name and sign up for hosting; Bluehost is one company Lawson recommends.

“It’s extremely affordable,” she says. “Bluehost really makes it accessible for everybody to get in the door — to not have to invest a ton and then see where it takes them.”

After that, you can select a theme and customize the look of your site, and set up your email list.

The next step: Start posting — even if everything isn’t exactly to your satisfaction.

“None of my stuff looked perfect,” Lawson says. “I just got in there and I started writing and putting stuff out there.”

Afraid? You’re Not Alone…

As exciting as it is, starting a blog can definitely be scary. It was for Lawson, too.

“The only reason I could bring myself to push publish on my first few blog posts is because I told myself that nobody would ever read them,” she says. “That didn’t work out — but I’m glad it didn’t.”

For Lawson, whose goal was never to become an entrepreneur, her blog’s success is beyond her wildest expectations.

“I just can’t even put it into words,” she says. “We still pinch ourselves every day that we get to do this.”

Your Turn: Have you ever thought about starting a blog?

Sponsorship Disclosure: A huge thanks to Bluehost for working with us to bring you this content. It’s rare that we have the opportunity to share something so awesome and get paid for it!

Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.

The post This Mom Earned $27,000 With Her Blog in a MONTH. Here’s How She Did It appeared first on The Penny Hoarder.

source The Penny Hoarder http://ift.tt/2fnnG0f

Financial Success and Ethical Consumption

Donna writes in with a great question:

Hi Trent!

I am really struggling with balancing ethical consumption with my dreams of financial success. Quite often, getting the most “bang for the buck” for a product involves buying from a company that cuts a lot of ethical corners in terms of their products. […] Looking for some insights into how to balance those concerns.

First of all, let’s look at what ethical consumption actually is. From Wikipedia:

Ethical consumerism (alternatively called ethical consumption, ethical purchasing, moral purchasing, ethical sourcing, ethical shopping or green consumerism) is a type of consumer activism that is based on the concept of dollar voting. It is practiced through ‘positive buying’ in that ethical products are favoured, or ‘moral boycott’, that is negative purchasing and company-based purchasing.

What does that mean in real world terms, though?

Ethical consumption just means that you choose not to buy products from companies that do things you consider unethical and you choose to, whenever possible, buy products from companies that do things in a way you consider ethical.

Let’s say, for example, that MegaCorp makes a particular brand of popular discount laundry detergent. The chemicals used in making the detergent is harsh and it is discovered that MegaCorp not only is exposing every employee in their company to these chemicals with no protection whatsoever, but they’re also dumping that chemical into a river that provides drinking water for five million people and they’re doing their best to cover it up. Meanwhile, Beautiful Babies LLC offers diapers that are hand made by well-paid artisan craftsman without chemical treatment, and zero waste is being produced from the Beautiful Babies factory. There are several ethical and moral reasons why a person might choose to buy diapers from Beautiful Babies rather than MegaCorp.

It’s important to note that not everyone subscribes to the exact same system of ethics, so I’m going to do my best to avoid pointing fingers at specific companies in this article. Instead, I’m going to try to use hypothetical examples that use extreme moral and ethical standards so that the difference is clear cut, like the one above.

So, what’s the problem here? It makes sense to not buy products from companies who do things that morally and ethically disgust you.

The problem is that companies that cut moral and ethical corners can often produce products at a lower price than companies who do not cut such corners. In the diaper example above, MegaCorp isn’t having to deal with the expense of handling that chemical waste or providing adequate protection for their employees, which enables them to sell diapers at a lower price than Beautiful Babies.

This comes into conflict with many of the core principles of frugality and financial improvement. One of the best strategies for financial self-improvement is to seek out the maximum bang for the buck with every purchase in order to conserve your financial resources to get out of debt and build a better future, right?

So, imagine you’re a parent who is trying to do just that – build a better financial future for yourself and your children. You’re standing in the diaper aisle and the box of MegaCorp diapers costs half as much as the box of Beautiful Babies diapers.

Which do you buy?

It’s not easy because you’re feeling two different deeply held values smashing against each other. On the one hand, you want to put you and your family on the strongest financial path, so the low price on the MegaCorp diapers looks really tempting and the high price of Beautiful Babies diapers is worrisome. On the other hand, the behavior of MegaCorp disgusts you deeply and you feel as though you’re rewarding that behavior by buying that product, so the MegaCorp diapers take on a negative light, and you also want to reward the ethics of Beautiful Babies so they take on a more positive light.

It’s an issue that anyone with a social conscience eventually deals with, and if you’re also invested in your financial future, you’re going to deal with it over and over again.

How do you resolve it? It’s not easy, I can say that for sure. It’s something I’ve struggled with many, many times over the last several years as I try to make purchases that simultaneously make financial sense and align well with my values.

Here are some of the strategies that I use.

Think Deeply About Your Values and Define a Few Very Clear Ethical Rules

Let’s say, hypothetically, that you’re upset by the notions of sweatshop labor and of chemical dumping into rivers. Those are two things that upset you deeply because you value paying people fair wages and keeping public resources clean.

Let’s say one company is known to be dumping several tons of industrial waste a year into a river just upstream of a major American city. Their primary competitor, on the other hand, keeps their factory clean, but it’s an overseas factory employing workers for $1 an hour under cramped conditions without proper safety gear.

Which company’s products do you buy if you have to buy one?

It’s not easy, is it? If you really care about both of those values, both companies might seem repugnant.

That’s part of the challenge of ethical consumption. Every single company in the world is likely doing something that you would ethically disagree with. Maybe they’re not paying their workers adequately. Maybe they’re not trading with their supply chain fairly. Maybe their factories produce a lot of waste. Maybe their factories run on unclean energy. Maybe their products feature a lot of wasteful packaging. Maybe they have hiring practices that you don’t like. Maybe their board of directors/CEO/president are involved, collectively or individually, with political causes that you disagree with.

Ethical consumption, in the end, means buying products from a company that is doing something that bothers you less than the behavior of another company. It’s going to be comparative, because no company is perfect.

What does that mean for you? You have to decide which particular values are most important to you and how they relatively rank. Do you buy products based entirely on their environmental impact? What about how they treat their workers? What about how hard they bargain with their suppliers? What about the sources of their energy? What about the political actions of their senior executives and directors? Which of those questions (or the others you might imagine, depending on what you personally care about) is truly the most important to you? Where do other questions rank behind it?

That’s going to seem incredibly hard at first. There may be a wide array of values that you care about deeply. However, if you don’t have a pretty strong sense of how those values compare for you, it becomes essentially impossible to make comparisons. If you don’t know how you feel about the importance of paying fair wages versus the importance of cutting down forests, how will you compare two different paper product companies, one of whom is involved in clear cutting while the other strongly underpays their workers?

Here’s why this is important. If you are not clearly pushing a central value or two with your ethical consumerism, your “voice” becomes deeply muddled and almost meaningless. If you’re trying to balance a dozen issues you care about, you’re going to constantly be compromising some of those issues with every purchase and your ethical purchases aren’t going to send any sort of clear message to anyone.

In the end, you need to decide on one or two issues you care about the most and upon which you make your buying decisions, while other factors become “tiebreakers” of a sort. If you don’t do that, then your ethical consumption won’t lead to any sort of change that you might want to see.

Let’s say, hypothetically, you’ve decided to support products that are made in America from ingredients provided by American suppliers if possible and you’re willing to pay extra for things that are made in America from American suppliers.

How much is that really worth to you? Are you willing to double the price of an item in order to make sure that it’s American made? Triple the price? Does that extend to literally everything you buy, or are you mostly concerned with a particular type of good, like clothing?

Again, this comes down to what exactly ethical consumption means for you. You’ve defined a central value that you care about the most in the previous step, but now you’re trying to figure out what it’s actually worth to you and how far you extend it.

Also, as before, it’s easy to just take a lazy answer here and say that you’re just going to generically “buy American,” but that doesn’t actually mean anything because if you’re not hitting a precise target with your purchasing dollars, your message becomes muddled and you quickly end up compromising what you value.

For many people who aren’t wealthy and are trying to build financial success for themselves, I think the most effective route is to define a few ethical rules that they’ll follow regarding some specific types of goods and then follow those rules regardless of dollar amount. That way, you can actually say something meaningful with the dollars you spend instead of just muddying the message and saying nothing at all. For other types of products, don’t worry about it because the ethics and morals you’re expressing with the purchase are likely to be muddied.

Cut Through the PR

You’ve decided on a few very specific buying rules that you’re going to follow. That’s great! If you stick to those rules, you’ll actually be making an ethical statement with your purchases.

The next step is to make sure that you’re actually following those rules, at least to the best of your ability. It’s time to start really researching specific companies and products related to those buying rules that you figured out.

Let’s say, for instance, that you decided to buy clothing made in America with supplies made by Americans, even with a price premium. That means you need to find companies that manufacture everything from t-shirts to underwear and coats to shoes that are made in America with supplies made by American. Time to do some real homework to identify those companies!

Many companies out there will issue press releases that tout that their product subscribes to particular common values out there, like “made in America.” Those press releases are often very selective in their claims, making the best “made in America” case that they can make but often excluding elements that might undermine that claim. For instance, they might show pictures of American workers working at that American factory, but if all they’re doing at that factory is stitching together two bolts of cloth imported from a foreign sweatshop, is that really “made in America”?

Dig deep. If you find a potentially good company, figure out where their factories actually are. Figure out where they buy their supplies.

You’ll probably find that companies that tout a particular value aren’t always 100% perfect in regards to that value. That’s okay. What you’re looking for is companies that are obviously trying to be far better than their competitors regarding that particular value.

As you go along, you’ll likely find some brands that claim to follow a value but really don’t do a good job of it and you’ll find other brands that do follow that value really well. Save all of this research. Start a document with links to all of this stuff. It’s more valuable than you might think at first.

The end result of all of this is that you’ll typically find a small handful of companies that are really the best in class in terms of their efforts to follow the value you care about. You need to not only support these businesses with your dollar, but champion them.

Make Your Voice Heard (But Be Polite)

It’s one thing to be an ethical consumer yourself and make purchases that really follow a particular value. It’s another step entirely to share that information with the world in a meaningful way that can persuade others. For every single person that you can persuade even a little bit to make a purchase that’s more ethical, you’ve amplified your personal ethical consumption.

The best way I’ve found to do this is to share the word with your friends in a polite fashion on social media. Simply state that you’ve made a personal choice to follow a specific ethical rule in your shopping because it’s important to you and in trying to follow it, you’ve discovered a handful of companies that really follow that ethic. List those companies, along with the evidence, and then point out that many other companies in the same field fall short and list many of the common reasons they do fall short.

You should share this in every place where it’s reasonable: places where people are listening to what you’re saying, like Facebook, and places where people are discussing the types of goods you’re thinking about, like specific messageboards where you’re already a member.

Be polite about it. Don’t demand that others follow your lead. Just share the information because you think they might find it useful. Share it all at once in a big batch and only provide an update if you’ve found a number of new companies. Don’t make it the only thing you talk about. In other words, be polite and reasonable about the whole process and others will actually listen when you do speak.

Think of it this way: by talking about your decision to buy something ethically and the research you’ve done into companies you’ve found that cater to that ethic in a polite fashion, you’re amplifying the value you get out of every extra dollar you spend on those more ethical purchases. You’re not only personally supporting companies that do those things with your dollar, you’re also using your voice to persuade others to check out those companies and perhaps spend their dollars in that fashion.

Change the Boundaries of the Question

Let’s change gears a little bit and move away from simply being a more effective consumer to bring about the change you want to see.

Another effective strategy for ethical consumption is to simply change the boundaries of the question in your life. In other words, if you’re buying products from an industry loaded with companies practicing ethics you don’t like, can you change your life a little bit so that you don’t need those products at all?

Let’s jump back to that comparison between MegaCorp diapers and Beautiful Baby diapers from earlier. Rather than having to make the choice between cheap and ethically concerning diapers or expensive and ethically pure diapers, maybe the choice is to simply not buy those kind of diapers at all and just use cloth diapers.

Maybe instead of trying to decide between several different clothing brands to add to your wardrobe, the solution is to not buy any of them and just go with a smaller wardrobe.

Maybe instead of buying a computer game that would support an unhealthy developer ecosystem or buying a game from a developer that has taken ethical stances you disagree with, you just choose to not buy any at all and play some of the games you already have in your library.

Maybe instead of continuing to buy electricity from an energy company who is doing basically nothing to make themselves sustainable, you decide to invest in solar panels or a small wind turbine to generate some or all of your own power.

In short, maybe there is a way to remove yourself from the buying equation if all of the options are either unacceptable in their ethics or far too expensive. Do you have to buy this product at all? Are there other options, particularly ones that might pay off over the long term?

Make Things Yourself

This is something of an extension of the previous idea, but it holds very much true.

Let’s say, for example, that all you can find for a particular vegetable at the store is an imported version of that vegetable coming from a farm in another country grown under who knows what kind of soil conservation and who knows what kind of pesticides or herbicides. Rather than buying that product, you might simply choose to start a garden for yourself.

Let’s say, for example, that you’re at the store looking at a cake mix and you have no idea what half of the ingredients are. Rather than buying that cake mix, you just buy flour, butter, baking powder, eggs, sugar, and some milk and make a cake from those ingredients yourself (a cake mix is really just flour, sugar, baking powder, a dash of salt, and trace amounts of flavoring to which you add milk and eggs and maybe butter). I have a friend who makes her own “cake mixes” from those ingredients and stores them in Ziploc bags until she needs them, for example.

You can make many of the things that you buy in a store yourself from more basic ingredients, ones that might be easier to source. It’s easier to figure out where flour and butter come from than to figure out the sources for all of the ingredients in a cake mix, for example.

Another advantage of this approach is that it is often cheaper to make things yourself than it is to simply buy that item in the store. Not only does this route make it easier to control the ethics of a particular item that you use, it can be a money saver. This is part of the reason that many people have their own gardens, for instance.

Final Thoughts

In the end, there are really two main approaches to ethical consumption.

One is to simply define a handful of clear ethical rules that you’re following, research them thoroughly to find products and companies that follow those rules, and then share that evidence loudly and clearly. This maximizes the “ethical value” you get out of every extra dollar you have to spend.

The other approach is to look for ways out of the question entirely by finding other products that fulfill your needs or simply making those products yourself.

Regardless of the path you choose for solving your ethical consumption dilemma, remember that simply throwing money at the problem doesn’t really help your situation long term. If you’re going to spend more to be ethical, make sure that it actually is ethical, that there’s not another path that doesn’t involve that extra spending, and that the results of your investigation are known to others.

Good luck!

The post Financial Success and Ethical Consumption appeared first on The Simple Dollar.

Source The Simple Dollar http://ift.tt/2fYVFKE

Savings protection set to be restored to £85,000

Rachel Lacey

The savings protection limit could be increased from £75,000 to £85,000 if a proposal from the Bank of England gets the green light.

The savings protection limit could be increased from £75,000 to £85,000 if a proposal from the Bank of England gets the green light.

In a consultation the Bank of England suggests the limit should be raised on 30th January 2017, although firms would have six months to amend and update their systems.

read more

Source Moneywise http://ift.tt/2ggpzLA

6 Smart Ways to Make Extra Money — Just for Knowing How to Speak Spanish

¿Hablas español? ¡Qué bueno!

Whether it’s your first language, or you’re a full-blown linguaphile with several under your belt, your knowledge of Spanish is in high demand. It’s time to start earning money from your skill!

Here are six ways for hispanohablantes to earn extra money from home:

Earn $200/Year by Sharing Your Internet Activity

Digital Reflection Panel wants to pay you over $200 a year to report information about your internet habits, and it’s seeking Spanish-speaking participants for its panel right now.

You just have to connect a simple device to your wireless router, and the company takes care of the rest. It takes about seven minutes to fill out the necessary survey to participate, and you’re set.

To qualify for the panel, you must live in a single family home with your own router tied to your physical address. (No apartment building wifi or freeloading off your neighbors!)

After completing the survey, you’ll get an email confirming the set-up kit with instructions will arrive at your house within the week.

When it arrives, don’t waste time installing it — you’ll earn $25 for setting it up within four days. You’ll earn $60 for the first two months you keep it installed, then $10 a month for every month you keep it installed after that.

Más información aquí.

Get Paid to Share Your Opinions

LoQuedigo is a survey site that helps companies learn more about what consumers want, to help them create better customer experiences.

It wants to pay you to share your opinions!

Here’s how to get started:

1. Get started here — you’ll earn 500 points just for signing up.

2. When a survey matches your profile, you’ll get an email inviting you to participate

3. You’ll receive rewards points for each survey you complete, usually worth $1-$5 per survey.

You can redeem your points as cash payment via PayPal, Facebook or Amazon credits or free magazine subscriptions.

Más información aquí.

Get Paid Every Time You Use Your Phone

Companies want to know more about consumers’ mobile usage to improve services for customers. They’ll even pay you for sharing your information.

Nielsen, the name we all know for tracking TV ratings, has brought market research into the 21st Century.

You can install its smartphone app to anonymously track your mobile usage — e.g. which apps you use, websites you visit and how much time you spend on certain activities.

Once it’s installed, just use your phone as you normally would. Nielsen will pay you up to $50 a year to keep it installed!

Más información aquí.

Be a Language Buddy

Offer your service as a companion and language buddy to someone who wants to practice their Spanish.

You can register to become a Friend at RentAFriend.com, where paying users can contact you to attend concerts, sporting events, family functions, VIP events and more.

You can charge up to $50 an hour and set your own schedule.

At that rate, friends working full time (five days a week) would earn up to $2,000 a week, plus free meals, coffee or events, depending on your activities.

Más información aquí.

Get Paid to Teach Spanish (or English)

Want to help others enjoy your love of language? With your skills, you could teach continuing education courses in your area.

You typically don’t have to have a degree to teach these classes, just a skill to share!

You could teach an adult education course in Spanish — or teach English as a second language to native Spanish speakers.

If you don’t want to host a local class, you could sign up to teach English classes online with a site like italki. You don’t have to know a second language to teach English through the platform, but your proficiency with language learning will likely make a sympathetic teacher!

Más información aquí.

Host Foreign Exchange Students

Did you know you could earn up to $200 a week hosting foreign students or visiting faculty? That is, of course, in addition to the experience you’ll gain meeting new people and supporting education in your area.

Pay varies depending on what you offer. You might host someone 24/7 for their stay, or only for partial days. The latter is typically for visitors who are here to learn English, so you may have to have a TEFL (Teach English as a Foreign Language) certification.

You won’t be required to speak a second language to be a host, but it might make your guest feel more welcome.

Más información aquí.

Your Turn: Have you found creative ways to make money speaking Spanish?

Revelación: Here’s a toast to the affiliate links in this post. May we all be un poco más rico today.

The post 6 Smart Ways to Make Extra Money — Just for Knowing How to Speak Spanish appeared first on The Penny Hoarder.

source The Penny Hoarder http://ift.tt/2fNSrw7

Not All Credit Repair Agencies are Equal. Here’s How to Avoid the Scams

If you find yourself with a lower-than-desirable credit score, it might be tempting to jump at the first offer you get for help. Instead, your top priority should be finding a reputable and legitimate credit repair agency.

Having good credit can save you thousands of dollars in the long run, as it’s one of the key factors lenders use to decide whether or not to loan you money — and at what rates.

So, who can you turn to if you find yourself with bad credit? Which credit repair agencies are legit? How can you avoid getting scammed?

We wanted to find out, so we turned to two experts to learn more about credit repair agencies, what they do and which ones to avoid if you find yourself in debt.

Debt Management Organizations

Credit repair agencies can help you boost your score in two ways: by helping you manage and pay off your debt, and by disputing negative items on your credit report.

Let’s talk about the debt-management strategy first. This type of credit repair involves good old-fashioned hard work — no shortcuts.

If you’re serious about improving your credit score, chances are you also need to get serious about managing your finances better. These groups can help. Many of them are nonprofits, which means their primary goal is education, not making money off you.

“We encourage consumers to engage in self-help to repair their own credit,” says Thomas Nitzsche of Clearpoint Credit Counseling Solutions, a nonprofit organization based in Atlanta.

“Understanding what makes up a credit score and building good financial habits will benefit them in the long run instead of seeking the quick (and often temporary) fix of a credit repair company.”  

First, they’ll want to get a sense of your complete financial picture before advising you of your options.

Chances are, if your credit score is in the toilet, you’ve also got some debt. That may be a good place to start, says Nitzsche.

“Effectively managing debt can help you organically increase your own credit score,” Nitzsche said.

An organization like Clearpoint can help you set up a repayment plan by acting as a coordinator between you and your creditors. A credit counselor can help you lower your interest rates and total monthly payments.

Another perk of a debt management plan is that it allows you to make one lump payment, which the company distributes to your creditors — no more keeping track of dozens of bills and due dates.

On average, a debt management plan can reduce your interest by half and lower your monthly payments by 20%, Nitzsche said.

Getting on a payment plan (which can also alleviate that feeling of drowning in debt) is almost guaranteed to boost your credit score, too.

“On average, clients increase their credit score by 106 points in the first 36 months if they stick to their payments,” Nitzsche said.

There is a monthly fee for a debt management plan like the one Nitzsche describes, but it should never exceed $50 per month, he said.

Disputing Negative Items on Your Credit Report

Other credit repair agencies are for-profit companies that help improve your score by disputing certain items on your credit report.

These companies start with a detailed review of your credit reports from the three major credit bureaus: Equifax, Experian and Transunion. Then, they draft dispute letters to the bureaus, objecting to the negative items on your credit report.

“By law, you have a right to dispute these negative items,” according to Lexington Law Firm, which has been helping consumers improve their credit since 1991.

“Any negative listing you feel may be inaccurate, untimely, misleading, incomplete, ambiguous, unverifiable, biased or unclear can be disputed with the credit bureaus. If the item cannot be verified, then it must be removed from your credit report.”

What does “unverifiable” mean? Let’s say one of your creditors went out of business — there’s no way for the bureaus to verify an item on your report from that creditor, so they have to remove that item.

These agencies are persistent, too. If negative items are not immediately removed from your credit report, Sky Blue Credit Repair will keep disputing them to “maximize the probability of achieving the desired outcome,” according to the company’s website.

These companies charge an initial startup fee, which can range from $20 to $100, and  a monthly fee of $59 to $90. Some of them don’t make you pay until you see results, while others have money-back guarantees if you’re not satisfied with their services.

How to Spot a Scam

Whichever route you choose to improve your credit score, how do you know if you’re working with a legitimate organization? Look for a few telltale signs.

It sounds obvious enough, but your first step should be Googling the company or the organization by name. If it’s legitimate, chances are it has a well-established website.

“Seeking an agency with a long history and with positive consumer feedback is also important,” says Nitzsche. “A simple Google search can tell you a lot about an organization and if you cannot find anything about at all, it’s a big red flag.“    

The company has likely been rated by the Better Business Bureau, and companies with high marks from the BBB often promote that score on their websites.

Consider where you heard about the company. Was it advertising on TV late at night, claiming to work miracles? Did you learn about it from a reputable news organization?

Another good thing to ask yourself: How long has this company or organization been around? Many of the most legitimate credit repair agencies are well-established and have a proven track record of helping consumers.

“Companies promising quick solutions for things like ‘credit repair’ or ‘debt forgiveness’ should be approached with extreme caution or avoided altogether,” said Bruce McClary, a spokesman for the National Foundation for Credit Counseling.

“Nobody can guarantee that your debt will be completely forgiven or that you will reach a perfect credit score by using their service.”

McClary added that these organizations or companies should be upfront about the details of their services — you should know exactly what you’re getting for your money, and how the service works.

He also advised looking for accredited organizations or those backed by a membership organization, such as the National Foundation for Credit Counseling or the Council on Accreditation.

Other scam tactics: The company promises to create a new identity for you, demands money upfront, is vague about its services and when it will perform them, or won’t specify how much money you’ll owe.

McClary said one common scam is for an organization to falsely associate itself with a government program or agency. Some will even try to get you to believe there was a presidential declaration that led to the creation of a new governmental program, he added.

“They may also use direct marketing tactics that look like official government communication,” he said. If you spot this type of scam, “The best thing to do is report them to the Consumer Financial Protection Bureau or your state attorney general.”

Your Turn: Have you ever worked with a credit repair or debt management organization?

Sarah Kuta is an education reporter in Boulder, Colorado, with a penchant for weekend thrifting, furniture refurbishment and good deals. Find her on Twitter: @sarahkuta.

The post Not All Credit Repair Agencies are Equal. Here’s How to Avoid the Scams appeared first on The Penny Hoarder.

source The Penny Hoarder http://ift.tt/2fYy9NZ

Love Potions are Real — and This Woman Makes a Living Selling Them

Is It Smart to Increase Your Credit Card Limit?

Trying to find an ethical and effective way to improve your credit scores can sometimes be a rather frustrating undertaking. After all, improving your credit often takes time or money; two things you may not have readily available depending on your personal situation.

The good news, however, is that there are also some out-of-the-box methods to improve your credit score that you may not have considered. One such tactic is to increase your credit limit.

Revolving Utilization and Your Credit Scores

Credit scoring models, like FICO and VantageScore, are designed to consider how you manage your credit card accounts. In fact, both of these scoring platforms base about one-third of the points in your credit scores on debt related measurements. A significant portion of these measurements is your revolving utilization ratio.

If you’ve never heard the term revolving utilization ratio before, there’s no need to worry. It’s a term that’s not often used outside of the credit industry. Revolving utilization ratio refers to the relationship between your credit card limits and your credit card balances.

Understanding how your revolving utilization ratio is calculated is relatively simple. Here’s a quick example:

If you have a credit card with a $1,000 limit, and you owe $500, then your revolving utilization ratio will be 50% –because you have “utilized” half of your credit limit. If you were to pay down the balance on that same card to $100, then your utilization ratio would fall to 10%. If you were to max out the same credit card account and charge your balance up to $1,000, then your ratio would climb to 100%.

The lower you can get that percentage, the better it’s going to be for your credit scores.

Why a Credit Limit Increase Might Help

What I just explained above is simple math — a division problem, if you will. If you want to be rewarded with higher credit scores, then keeping a low revolving utilization ratio on your credit card accounts is important. When you incur large balances on your credit cards, your credit scores are almost guaranteed to suffer as your balance grows. This fact is true even if you make every single monthly credit card payment on time.

The easiest way to lower your revolving utilization ratio is to write a big check. In other words, paying off your credit card balances is generally a fast way to raise your credit score. However, if you can’t afford to simply pay off your credit card balances, then another way to lower your revolving utilization ratio is to change the other part of that mathematical equation – by asking for a credit limit increase.

In the scenario above, you saw how a $500 balance on a $1,000 credit card equaled a revolving utilization ratio of 50% (not so great for your credit scores). If you were able to increase the limit on the aforementioned account to $2,000, then your revolving utilization ratio would immediately fall from 50% down to 25% — a percentage that’s much better for your credit scores.

So, as you can see, a credit limit increase offers you another potential way to improve your credit scores quickly and without spending a dime.

But, There’s a Catch

Requesting a credit limit increase on your credit card accounts can often be a positive move for your credit scores. Yet there are a few potential issues you should keep in mind before you give your credit card issuer a call.

1. Potential Inquiries

Your credit card issuer might pull your credit report whenever you apply for a limit increase on your account. While a single credit inquiry probably isn’t going to have much of an impact on your credit score, there’s at least the potential that having your credit pulled could have a negative effect.

2. Avoid Temptation

A higher credit limit isn’t a license to go shopping. The point of the increase is to lower your utilization rate and increase your credit scores. Spending into your new, higher credit limit defeats the purpose and will only make it harder to improve your scores. If you know you don’t have the self-control to avoid overspending, then it’s probably not a good idea to ask for a credit limit increase.

Related Articles

• Applying for a Credit Limit Increase: What You Should Know
• This One Factor Impacts Your Credit Score More Than Anything Else
• FICO vs. VantageScore: Comparing Your Many Credit Scores

The post Is It Smart to Increase Your Credit Card Limit? appeared first on The Simple Dollar.

Source The Simple Dollar http://ift.tt/2fY71yH

Homeowners keep quiet about crime

Hannah Nemeth

keeping-quiet.jpg

Almost one in 10 adults (8%) have been a victim of – or witnessed a crime – but didn’t report it to the police in case it would devalue their property, according to new research.

Almost one in 10 adults (8%) have been a victim of – or witnessed a crime – but didn’t report it to the police in case it would devalue their property, according to new research.

read more

Source Moneywise http://ift.tt/2fN8zxL

How Moms Can Earn More By Creating a Lifestyle Career

By Susan Finch Living as a freelance video editor and writer in New York was a thrilling experience that helped me build confidence as I figured out how to cover my expensive bills, go out with friends, and put a little away. I prided myself on being able to take care of myself financially, but […]

The post How Moms Can Earn More By Creating a Lifestyle Career appeared first on The Work at Home Woman.

Source The Work at Home Woman http://ift.tt/2gxoSQD

Savings update: cash Isa rates plunge up to 50% in a year

Sylvia Morris

Average cash Isa rates have fallen below 1% for the first time, according to new research from data analysts Moneyfacts.

Average cash Isa rates have fallen below 1% for the first time, according to new research from data analysts Moneyfacts.

Easy-access deals are now at an average 0.73%, down from 1.09% this time last year. On longer-term fixed-rate deals the rate is now just 0.98%, down from 1.98% 12 months ago.

read more

Source Moneywise http://ift.tt/2fN4HN9

Stroudsburg considers outside bus driver company

The current union contract with about 360 transportation employees expires in June 2017.

Source Business - poconorecord.com http://ift.tt/2gwIMuM

Agencies partner for improved Thanksgiving travel

With increased traffic expected for the upcoming Thanksgiving travel period, the Pennsylvania Department of Transportation and state police have outlined measures they will take and tools available to drivers to make holiday travel as safe and smooth as possible.Thanksgiving travelers are encouraged to visit the “Historic Holiday Traffic” page at www.511PA.com, which allows users to see how traffic speeds on the Wednesday before and Sunday after [...]

Source Business - poconorecord.com http://ift.tt/2gb24lf

My Dual Obsession: Corvettes and The BuyPower Card from Capital One

When I was growing up, I was like any other little boy.

I loved superheroes, getting dirty, and fast cars that could dash around a racetrack at lightning fast speeds.

I loved race cars so much, in fact, that I would fantasize about becoming a professional driver when I grew up.

I imagined myself donning protective gear, driving 200+ miles per hour, and dodging other cars and obstacles left and right.

I never thought any of that would happen, but it was still fun to dream. And really, dreaming was about all I could do when I was a kid. You see, my dad drove a 1980 Chevy Nova when I was in grade school. In case you’re not familiar with the Chevy Nova look, it was a small, boxy car with a super slow engine. Basically, it was the exact opposite of the fast cars I obsessed over.

But as I got older, something happened. My mom started dating a new guy who owned a real-life racecar that blew my mind. I wasn’t sure what I thought about my mom’s new date, but I sure loved his 1967 Red Corvette Convertible.

As a nine-year-old, it was easily the coolest car I had ever seen! While I couldn’t drive it, I loved sitting in the driver’s seat and imagining what life would be like behind the wheel. I was just a kid, after all, and this is the type of stuff kid’s dreams are made of!

My Childhood Dreams Come True

Fast forward more than 25 years and I’m forced to drive a car big enough to haul around a family of six. Still, I was so excited when General Motors and the BuyPower Card from Capital One team reached out to me about driving a new Corvette in an enclosed racetrack. Obviously, there was no way I could pass this up!

There are two reasons I thought this was a good opportunity. First, I love Corvettes and couldn’t wait to drive one. Second, I know a lot of people could stand to learn more about the BuyPower Card from Capital One and how it could help them save up to buy their dream car.

In case you’re not aware of the BuyPower card and how it works, this card puts a unique spin on rewards. Basically, you use the card for regular purchases, earn points for each dollar you spend, then use your points to save money on a new Chevrolet, Buick, GMC, or Cadillac Vehicle.

But unlike other rewards cards, the perks this card offers are substantial. With the BuyPower Card from Capital One, you get 5 percent back on your first $5,000 spent each year then 2 percent back in perpetuity. There is no cap on the rewards you can earn and your points will never expire. Plus, the BuyPower card doesn’t charge an annual fee.

As I hurried around the racetrack in this amazing Corvette, I couldn’t help but think how beneficial it would be to have an easy way to save up a larger down payment for a similar car. Obviously, a new Corvette is nice….but it’s even better if you get an awesome deal.

At a BuyPower VIP event I was invited to, I learned more about the type of people who take advantage of this rewards credit card and all it offers. One VIP I met with, Bill from Indiana, said he has carried the the BuyPower Credit Card from Capital One for more than thirty years. During that time, he redeemed rewards to purchase 11 vehicles for himself and his immediate family members.

Another small business owner I spoke to used his points to purchase new trucks for business use. With 5 percent back on your first $5,000 spent and 2 percent back thereafter, he couldn’t beat the rewards with any other card, he said.

A MasterCard spokesperson I met felt she knew exactly why this card was so popular. It was the simplicity of the card and how easily members could rack up points, she said.

Obviously, earning 5 percent back is a huge benefit, but getting an unlimited 2 percent back on all purchases helps people rack up points much faster. The fact that you can use these points directly at GM, Cadillac, Buick, and Chevy dealers is also a huge perk among loyal buyers who love their favorite car brand.

Should You Get the BuyPower Card from Capital One?

Driving a Corvette was a fun experience, and it’s one I won’t forget for a long time. In a lot of ways, it brought me back to the days when I was just nine-years-old. Except this time, I didn’t have to sit behind the wheel and pretend. My stick shift skills were a little rusty and I stalled the Corvette a few times, but I had fun nonetheless.

Best of all, this trip reinforced the idea that there are so many ways to save up for a newer car if buying one is a priority. With the BuyPower Card from Capital One, you can earn a ton of points for each dollar you spend and use them to save money on your new car purchase.

Even better, you can “stack” your rewards with other discounts for an even better deal. If you’re in the market for a new car and want to stick to a reliable GM, Chevrolet, Cadillac, or Buick model, the BuyPower Card from Capital One is a smart option to consider.

With plenty of amazing vehicles to choose from, this rewards card is definitely on my radar, too. But with four kids, my dream Corvette will have to wait.

Did you fantasize about growing up to become a race car driver? Spill the details below.

Source Good Financial Cents http://ift.tt/2fjeeHY

Tell Black Friday to Take a Hike With Free Entry into These State Parks

Once all the turkey leftovers are wrapped and stored in the fridge, how about a bit of fresh air?

Instead of spending money on Black Friday, many states want you to go to outside. And to make it easier, they’re making admission absolutely free.

Some states offer free state park admission every day: If you live in Arkansas, Illinois, Iowa, Missouri, Montana, North Carolina, Ohio, Pennsylvania or Tennessee, you enjoy free basic admission all the time!

But the following states are offering a special deal on Black Friday as part of REI’s #OptOutside campaign.

The outdoor retailer is closing all its locations on Black Friday, encouraging people to get active instead of going shopping. REI pays its employees for this day off, and even closes online order fulfillment centers in celebration.

The following states will offer free admission on Friday, Nov. 25:

1. Arizona

Arizona is offering free state park passes at the state’s four REI locations. Since REI is closed on Thanksgiving and Black Friday, you’ll need to visit between Nov. 19 and 23 to pick up your pass.

If you decide at the last minute not to use your pass on Black Friday, check out the expiration date — it’s good through Dec. 31!

2. California

Act fast to get a free pass to one of California’s 116 state parks on Friday, Nov. 25. Visit the #GreenFriday website and choose which park you’d like to visit. If passes are still available for that location, you’ll be able to print one to display when you enter the park by car.

The Los Angeles Times says you can save $12 in parking fees at several parks — but only if you have the pass!

3. Colorado

Celebrate #FreshAirFriday with free admission to Colorado’s 42 state parks. Use the park finder to plan your day out!

4. Delaware

State park offices will be closed on Black Friday, but park gates will open at 8 a.m. for free entry.

5. Indiana

Enjoy free admission at Indiana state parks on Friday, Nov. 25. Post a park selfie on the Indiana State Parks’ Facebook page with the hashtags #OptOutside and #OptOusideIN and you could win a $50 camping gift card or an annual pass to Indiana parks.

6. Kansas

The state’s 26 parks won’t require daily vehicle permits on Nov. 25.  Enter to win a free cabin stay by posting a picture from one of the parks to Instagram or Twitter with the hashtags #myksstatepark and #optoutside.

7. Michigan

Michigan has 103 state parks and 138 state forest campgrounds! Campsites are included in the state’s free park event.

8. Minnesota

Minnesota celebrates Free Park Friday at its 75 state parks for the second year.

9. Nevada

Grab a free entrance pass from Nevada REI locations to use at the state’s 16 parks on Nov. 25.

10. New Mexico

New Mexico’s 40 state parks usually charge a $5 daily fee, but it’s waived for all on Nov. 25. The state suggests a “Stuffing strut” hike, which sounds like a great idea.

11. Oregon

All 26 Oregon state parks will offer free parking and admission on Black Friday, but a few have special events for you to enjoy. Visit Stub Stewart, Tryon Creek, Champoeg and Silver Falls state parks from 10 a.m. until 2 p.m. to enjoy hot drinks, snacks and drawings for outdoor prizes.

12. Vermont

“Our parks have many great places to walk, bike, hike, run, or just sit and digest the 3 pieces of pie you just ate,” Vermont State Parks’ blog post assures visitors. The state will offer free admission on Black Friday and through the rest of the “off-season” through April 1.

Tag #OptOutside and @VTStateParks in a photo on Facebook or Twitter to be entered to win a 2017 Vermont State Parks pass.

Your Turn: Will you visit one of your state’s parks on Black Friday?

Lisa Rowan is a writer and producer at The Penny Hoarder.

The post Tell Black Friday to Take a Hike With Free Entry into These State Parks appeared first on The Penny Hoarder.

source The Penny Hoarder http://ift.tt/2gbyG26

Nearly a Quarter of Americans Earn Money This Way. Here’s How You Can Too

I think we can all appreciate a good gig — flexible work schedules, some side income, noncommittal terms…

And the gig economy is booming, thanks to what Pew Research Center is calling the “digital platform economy.”

You’ve heard of this. Think: Uber, Etsy, Airbnb, DogVacay… anything that contracts folks via the digital realm to work flexible gigs.

“24% of Americans report earning money from the digital ‘platform economy’ in the past year,” reports a recent Pew study.

So What’s The “Gig” Deal About The Gig Economy?

Digital earning platforms offer so much room for activities.

Seriously, there are tons of ways to make money. Some of the most popular sectors include online tasks (surveys, data entry, transcribing, etc.), ride hailing, shopping/delivery and cleaning/laundry, according to Pew’s study.

And people are drawn to these because you can take on jobs in your own time — in addition to that 9-to-5 career or alongside another gig. Heck, if you want to skip “work” for a month or two, you can do that, too.

Many Americans (54% of those surveyed) consider gigs good for older people who might not work full time. On the other hand, 37% think these platforms offer good entry-level jobs to those entering the workforce.

Want to Find a Gig? We Have a Few Ideas About Where To Start

Certainly you can get handy work or become a freelance writer, but that’s not really what Pew’s talking about here. It’s talking about technology, of course, and finding gigs via the digital platform economy.

So go ahead and fire up your computer and turn off your iPhone “Do Not Disturb” setting (because I know you always accidentally keep that on for way too long). Consider these apps and services as you join the other 24% of Americans.

1. Airbnb

List your space on Airbnb to make some serious bucks.

Marian Schembari of San Francisco made more than $2,000 in a year doing this during weekends she was off camping with her husband.

She even used an Airbnb rental as her wedding venue. Be sure to check out her tips on Airbnb hosting.

2. DogVacay

Petsitting just got a heck of a lot easier. No more door-to-door marketing.

Now you can download apps such as DogVacay, Rover or Wag! and play with other people’s pups — even kitties.

And it’s not just for dog-lovers. You can like cats, too.

3. Etsy

If you’re crafty, you can join the hoards of people setting up storefronts with Etsy.

From knitted scarves and scrapbooks to engraved jewelry, you can find it all for sale on Etsy. What could you sell?

One mom opened Three Bird Nest and makes up to $70,000 a month selling headbands, jewelry, scarves, hats, gloves, sweaters and even home décor. The crafty platform is a great jumping off point for starting a side gig — or business for that matter.

4. Mechanical Turk

It sounds so foreign, but it’s so easy. Basically, Amazon’s Mechanical Turk pays you to do easy-to-accomplish tasks. All you need is a computer.

Our CEO, Kyle Taylor, tried out the service and made an extra $50/week. Not bad!

5. Poshmark

According to that Pew study, 14% of Americans earned money online last year by selling used or secondhand goods.

You can start by clearing out your closet and selling your items on Poshmark, a digital platform for women. Have too many books? Find out what those are worth on Bookscouter. Decluttr will take your old CDs, DVDs and electronics and you can sell pretty much anything else on letgo.

If you want to take selling online to a different level, stop by garage sales and thrift stores to find items to resell.

6. Shipt

People hate grocery shopping, but you could make money as a Shipt shopper.

Customers use an app to request groceries. You can pick and choose when you want to pick them up for someone grocery and make $15-$22 an hour, according to Shipt — and Destiny Frith, who we spoke to about working with them.

7. SwagBucks

This is one of our readers’ favorite survey tools. Yup, surveys count as one of these digital gigs.

With Swagbucks, you simply sign up and explore all the ways you can make money — one of the most lucrative ways is taking surveys. Some pay up to 300 SBs each (those Swagbucks), which are translated to money.

Our CEO also does this and pockets an extra $10-$100/month. *Survey* all the details with our ultimate Swagbucks guide.

8. Uber

You can’t forget about the company that seemed to started this whole movement: Uber.

The Pew study reported 2% of U.S. adults earned money from a ride hailing platform last year — including this comedian.

Signing up is easy, and we’ve already rounded up some hacks for you.

So what do you think? Will you give the gig economy a try?

You can check out more gigs on our Facebook jobs page.

Your Turn: Maybe you’ve already given the gig economy a try. Tell us about your experience.

Disclosure: Here’s a toast to the affiliate links in this post. May we all be just a little richer today.

Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder. After recently completing graduate school, she focuses on saving money — and surviving the move back in with her parents.

The post Nearly a Quarter of Americans Earn Money This Way. Here’s How You Can Too appeared first on The Penny Hoarder.

source The Penny Hoarder http://ift.tt/2gD1wto

GFC 074: 4 Factors to Consider When Planning for Long-Term Care

Imagine you’ve done everything right to prepare for retirement. You’ve maxed out your 401(k) and Roth IRA for years, slowly paid off your primary residence, and reduced your living expenses. You’ve bought plenty of life insurance and secured health insurance that will last until you reach Medicare. Not only that, but you’ve avoided many of the common trappings of future retirees – things like getting into debt to pay for your kid’s college or running into big medical bills.

You might think your retirement will be smooth sailing, but there’s still one major factor to consider – paying for long-term care. Far too many future retirees glaze over this important component of retirement, mostly because the idea of “long-term care” is depressing – and long-term care insurance is so expensive.

Unfortunately, failing to plan for long-term care can be a costly mistake. According to recent statistics from U.S. government, the average cost for a semi-private room in a nursing home is around $6,235 per month. An assisted living facility, on the other hand, costs an average of $3,293 per month. Heck, even having a home health aide visit your home costs $21 an hour, on average.

If you don’t plan for these huge costs, it’s pretty safe to say you’ll be in for a rude awakening if the worst happens and you or your spouse actually need long-term care. What then?

Will You Need Long-Term Care Insurance?

Unfortunately, this is one issue that hardly anyone talks about. Then again, far too many of us think we’re invincible. We like to think we’ll live full and exciting lives until our 90’s, then die in our sleep. Nobody wants to picture themselves lying in a nursing home having their diaper changed every few hours, or getting so sick we need professional help to remain at home.

Unfortunately, the latter scenario is not only possible, but likely. As the U.S. Department of Health and Human Services notes, someone turning 65 today has an almost 70 percent chance of needing long-term care during their lifetime. Further, the average long-term care stay for men sits at 2.2 years, while women need an average of 3.7 years of long-term care.

Still, many people don’t bother buying long-term care insurance, mostly due to the expense. According to the American Association for Long-Term Care Insurance (AALTCI), the average long-term care insurance premiums for a 55-year-old are around $2,007 per year. For a couple the same age, the average premiums are around $2,466 per year combined. For the average 60-year-old couple, the average long-term care insurance premium runs around $3,381, but can be as high as $5,637.

4 Factors to Consider Regarding Long-Term Care

As you navigate the world of long-term care insurance, it’s important to know the various option you have. Here are a few important factors to consider:

Medicare is your first line of defense.

One of the biggest misconceptions people have about long-term care is that the “state” is going to take care of it. While there’s some truth to this idea, it’s not as easy as it seems.

If you’re old enough to qualify for Medicare, you can think of Medicare as your first line of defense when it comes to long-term care. Generally speaking, Medicare will cover the first 100 days of long-term care in certain situations. Here’s what Medicare.gov has to say about long-term care:

“Long-term care is a range of services and support for your personal care needs. Most long-term care isn’t medical care, but rather help with basic personal tasks of everyday life, sometimes called activities of daily living. Medicare doesn’t cover long-term care (also called custodial care), if that’s the only care you need. Most nursing home care is custodial care.”

According to Medicare.gov, Medicare does cover:

• Care in a long-term care hospital
• Skilled nursing care in a skilled nursing facility
• Eligible home health services
• Hospice & respite care

The Department of Veterans Affairs might help.

If you’re a veteran, you may qualify for assistance with long-term care depending on your situation. According to VA.gov, home and community-based services are part of the VA Medical Benefits package. To qualify, you must have a clinical need and the services must be available in your geographic area. These services can include:

• Geriatric Evaluation to assess your care needs and to create a care plan
• Adult Day Health Care
• Respite Care
• Skilled Home Health Care

Nursing home care has different eligibility requirements, but it’s clear that the VA does not pay for room and board in residential settings such as assisted living or adult family homes.

“However, you may receive some Home and Community Based Services while you are living in a residential setting,” writes VA.gov on their website. “The VA will provide Community Living Center (VA Nursing Home) or community nursing home care IF you meet certain eligibility criteria involving your service connected status, level of disability, and income.”

To summarize, long-term care benefits from the VA depend on your health, your level of need, and availability in your area. Make sure to check with your local VA for more information before you count on help with long-term care from the Office of Veterans Affairs.

Medicaid is your last option, but only when your assets have been depleted.

If you’re not a veteran or need more long-term care than Medicare will cover, you might assume that “the state” will step in to pay. This is another big misconception that is partly true: Yes, Medicaid will chip in to pay for long-term care, but only after you jump through a bunch of hoops and spend down all your assets.

While the rules are somewhat jumbled, you really need to have less than $2,000 in liquid assets to have any hope of Medicaid covering your long-term care expenses. Yes, you read that right – $2,000 in cash and investments that are liquid. This includes your checking and savings account, CDs at the bank, IRAs, and even cash value life insurance policies.

In other words, you basically need to go broke before you can expect help from Medicaid. There are a few exceptions, of course. For example, Medicaid offers exemptions for your primary residence (with limits defined by your state). You can have equity in your home, and still qualify for help from Medicaid.

In addition to that, you’re allowed to have a car worth its market value. You can also have a prepaid funeral without having to worry about Medicaid going after it.

Long-term care insurance is a smart option, but it helps to buy when you’re young.

The obvious way to prepare for the inevitability of needing long-term care is buying long-term care insurance. But, at what cost? And, when do you buy it? Here’s where things get tricky.

First off, nobody wants to think of long-term care insurance. People are much more comfortable with the idea of death versus slowly decaying in a nursing home over several years. Because of this, many people never look into long-term care insurance until they get sick and actually need it. And by then, it’s far too late.

The key to buying long-term care insurance is the same as life insurance – buying early. As with any type of insurance, you have to buy it before you need it. Since long-term care insurance is expensive, this is a tough pill for many people to swallow. Worse, the way long-term care insurance isn’t all that appealing to consumers, either.

First, long-term care insurance is mostly a “use it or lose it” game. You can pay into a policy for decades or more, but the policy dies and you get zero if you pass away without using it. Another undesirable aspect of long-term care insurance is that your premiums aren’t usually fixed. Where you may pay the same life insurance premiums for thirty years, your long-term care insurance premiums will likely grow as you age.

Regardless, long-term care insurance can easily become a bargain if you need it – and especially over the long-term. Imagine your spouse needs to live in a nursing home for five years to the tune of $6,235 per month. Over 60 months, you would pay $374,100!

This is why you should look into long-term care insurance if you can afford it. Without a policy, you could easily spend your entire life savings paying for nursing home care.

The Bottom Line

Getting old is inevitable, but none of us know what our final years will look like. Some of us will live in our own homes with full health until the very end, while others will need long-term care for years.

Just like anything else in life, long-term care is less stressful when you start looking ahead early. With some planning, you can shelter your nest egg from the increasing costs of long-term care, pass on your wealth to your children, and avoid the stress that comes with dealing with this issue in old age.

If you’re curious how to start planning or want to know how to protect your assets, your financial advisor is a good place to start. Most importantly, you need to start asking questions and looking ahead to the future before it’s too late.

Related: Long-Term Care Alternatives You May Not Know

Do you have long-term care insurance? Why or why not? How do you plan to pay for long-term care?

Source Good Financial Cents http://ift.tt/2fy9HlU

Beer Lovers, Raise a Glass This Holiday to Cool Freebies from Sierra Nevada

Expecting company this holiday season? You have enough glassware to serve festive beverages to them, right? (No one likes drinking from that faded plastic cup you got from a street festival 10 years ago.)

Sierra Nevada wants to send you two free pint glasses, just to help celebrate the season.

Send the brewery a photo of your “favorite holiday cheers” and it’ll send you two limited-edition Sierra Nevada glasses. No purchase required!

How to Get Your Free Pint Glasses

You can choose one of two submission methods: upload your photo online or share it via social media by using hashtag #CelebrationIPA. If you’re sharing on Facebook, be sure to post your photo to Sierra Nevada’s wall.

Sierra Nevada shares submissions on its website, and many photos show Sierra Nevada Celebration Fresh Hop IPA being enjoyed in interesting locations. But others just show friends toasting one another, and many photos feature dogs in the general vicinity of beer, which I approve of.

You must be 21 to receive this giveaway, and you must have a valid address — no PO boxes permitted. And remember to keep your submission legal.

The “Reasons Why Your Entry Might Be Axed” section of the rules specifies that entries featuring minors or anyone under legal drinking age aren’t eligible. “C’mon guys, we all know you think your niece holding a beer bottle is cute, but we also know combining underage folks and beer is just a bad idea.”

The offer is good while supplies last, and you can expect your package from Sierra Nevada within 60 days of submitting your photo.

Your Turn: Will you submit a photo to receive free pint glasses from Sierra Nevada?

Lisa Rowan is a writer and producer at The Penny Hoarder.

The post Beer Lovers, Raise a Glass This Holiday to Cool Freebies from Sierra Nevada appeared first on The Penny Hoarder.

source The Penny Hoarder http://ift.tt/2fyd4cJ

Questions About Weekend Lunches, Bed Linens, Shaving, Virtual Account Numbers, and More!

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to summaries of five or fewer words. Click on the number to jump straight down to the question.
1. Virtual account numbers
2. Student loan forgiveness
3. Retirement contributions as state employee
4. Quarter-life crisis
5. Best bargain on bed linens
6. Noisy neighborhood while telecommuting
7. Best streaming music bargain
8. Black Friday and big purchases
9. Gifts for distant people
10. Inexpensive daily shaving routine
11. Resume value from fast food?
12. Simple cheap healthy lunches

This past weekend, my wife and her sister spent a large portion of Saturday at an event together, meaning that I had most of a Saturday to spend with my children.

When my wife returned home, she found a giant art installation going on in the living room as designed by a nine year old girl and executed by that same girl, her two brothers, and her father. When she went into the dining room, she found that the entire table was covered with some kind of crazy miniatures-based tabletop game that everyone was crowded around, staring at beautiful little miniatures arranged on a giant grid, pushing them around and shouting about the onslaught of hordes of little minions.

Somewhere in all of that, books had been read, breakfast and lunch had been eaten, and the family dog had been played with so much that he was in an exhausted heap on the floor.

In short, it was one of the best Saturdays in a long time. A family day where everyone is involved in just taking off the reins of the ordinary routines and doing some purely fun stuff around the house can be incredibly enjoyable.

Q1: Virtual account numbers

What is your take on virtual account numbers? I just found out about them a few weeks ago and the concept appeals to me especially for setting up recurring payments on my bills.
– Bill

I think virtual account numbers are a very good idea. I think for highly trusted retailers, they might be a bit of overkill, but if you’re considering using your credit card at an online retailer where you’re not as familiar with their practices, using a virtual account number can be a really smart move.

For those unaware, a virtual account number is a tool offered by some credit cards and debit cards in which they give you a secondary card number (or account number) that you can use for a specific purpose. That account number only works for the purpose that you specify, so if it’s used for any other purpose, it’s declined.

As I said, I think this is a great idea for minimizing identity theft. It’s a bit of a hassle to get each code, so I wouldn’t use it for retailers that you use all the time, but for one-off purchases, particularly when you’re less sure about the retailer, it’s a great tool.

Q2: Student loan forgiveness

I have $36k in student loan debt and am on an income-based repayment plan. I am an adjunct instructor, so my income is always in flux. Some years my payment is quite a bit, and some years my payment is zero. I keep reading that student loan debt is forgiven after 20 years of paying as agreed. Does ‘paying as agreed’ mean those years with $0 payments count? Am I better off trying to pay something even when my payment is formally $0 per month?
– Sandra

Student loan forgiveness depends entirely on the agreement between you and your lender(s). Some states will step in and help you finish out a loan if you meet certain requirements, but you have to find specific programs to do so. It’s absolutely not true that all outstanding loans are forgiven twenty years after you graduate.

What you’re reading about might be the specific PAYE program run by the Department of Education. To find out if you qualify for this program, you need to use this calculator provided by the Department of Education. You may also want to look at the Public Service Loan Forgiveness program.

Options for student loan forgiveness have increased drastically in the last several years, but most of them apply primarily to newer loans. They also usually require that you be enrolled in a specific income-based loan repayment plan. Unfortunately, it’s fairly likely that you’re not qualified for these things, but it doesn’t hurt to look.

Q3: Retirement contributions as state employee

I am writing on behalf on my brother, because I manage his finances for him. He’s 30 years old, and recently hired as a state employee. Because of this, he will receive state retirement (we live in Massachusetts) which will deduct 9% automatically from his check, and provide him with about $933/month assuming he stays there for 10 years (and more if he stays longer – which is the plan).

Previously, he was contributing 20% of his salary to a 401k. I would like for him to contribute more than just the 9% toward his retirement. As far as I know, his employer does not offer any other retirement fund options.

What are his options? Should I have him contribute to an IRA?
– Lenora

If he has been contributing 20% of his salary to his 401(k) for the past several years, he should already have a healthy nest egg in there. Assuming that it grows at a healthy clip and assuming that your brother contributes to this program, he’ll be fine for retirement.

The advantage of any additional contribution to a Roth IRA is that it would open him up to the possibility of retiring at age 50. The Massachusetts plan allows people to retire at any age once they have 20 years of service. If he’s been contributing to a Roth all the way along, he might be able to retire in his fifties and live off of his Massachusetts retirement money and Roth money until he reaches the age where Social Security kicks in.

If that’s not in line with your brother’s life goals, then forgoing the Roth probably means he’d retire around age 60 to 65.

Q4: Quarter-life crisis

I just turned 28. I have been in the work force this way or another for ten years now, starting with a lot of admin work right after highschool and currently working as a junior analyst. My BA is not in a quantitative field, but I’ve completed some online courses. I’m currently 100% healthy, pretty frugal, not married and no children, don’t have a car, a mortgage, or any debt to that matter. have about $25k in savings and I’m saving about 50 percent of my income each month.

I now work a pretty regular 9-6, but have a monstrous boss. i haven’t yet had a job where i wasn’t sick of it after 6 months (though i usually stay an average of 2 years). I am dying to just quit and start figuring out who I am outside the job scene. I’m pretty introverted so I want to travel, get more comfortable with the outdoors and get better at human connection. I could live off my savings for about 2 years (I live in Israel. Even more somewhere cheaper), and I can stretch them even longer if i found a low-key part time position. Though I realize I’d have to go back to administrative jobs, and it will be a huge step back professionally and financially.

I read a lot of personal finance blogs but have a special deep appreciation for your grounded voice and practical advice. your wonderful writing has been a part of my life for many years, so I would love to hear your take on my situation. is this break something that I owe to myself, while I’m young? or a glorified fantasy that will slowly waste my savings?
– Nicole

Honestly, it sounds to me like you’re having a “quarter life crisis,” which is a point that many people reach in their late twenties when they’re really starting to grasp what they want out of life and realizing it’s not in alignment with some of the choices they’ve made.

It happened to me and it ended up taking the form of switching to working on The Simple Dollar full time at age 29 so that I could have the professional flexibility to be a strongly involved father. It happened to my best friend, who basically cashed in his life savings to buy some land in the country that now serves as his personal “retreat.” Another close friend, in her very early thirties, decided that she didn’t want to live in Chicago any more and moved to extreme rural Iowa.

I think that if you’re truly committed to using this time to really figuring out what you want out of life, meaning it’s not just two years of web surfing and partying, this is probably a good move for you. You’re financially stable with a lot of savings right now and you seem to be dissatisfied with the direction of your life. Take the time, but consciously use it to figure out what’s next for you. Try a lot of things. I’d suggest volunteering at a lot of places to see what really clicks for you.

Many financial writers encourage people to stay on the financial straight and narrow, but for me, the purpose of financial success is to open up your horizons and change what’s reasonably possible in your life. This is probably the best chance you’ll have to do so. Just make sure that every single day, when you wake up, you’re genuinely committed to figuring out what you want out of life. A day where you just sit around web surfing and partying is fine on occasion, but if it’s any sort of routine, you’re wasting this wonderful opportunity.

Good luck!

Q5: Best bargain on bed linens

I have another question if you don’t mind. What is your take on the best-value bed linen? I buy mine from Aldi or Target, and it needs replacement every 2-3 years. On the other hand, I read that linen is the best, well, bed linen option, because once you pay that hefty pricetag, it lasts forever. Shall I approach bed linen the same way as camping gear and invest once in quality linen to use forever and enjoy a low cost per sleep?
– Marcy

In general, good linens are worth the investment because they last for one or two decades rather than one or two years. You don’t have to worry about replacing them for a very long time. Sarah and I have been married for more than a decade and we still use linens we received as wedding gifts, for example.

The thing you really need to look for in lasting linens is to make sure that they’re made out of a natural fiber like cotton or bamboo and that they’re woven, not knitted. Woven sheets will last a lot longer because of how the threads are intermingled. A lot of people tout thread count, but in general, if you’re above 200 on your thread count, you’re fine. I honestly can’t tell the difference by touch and we have two sets with vastly different thread counts that have lasted a decade.

Many people tout Egyptian cotton or Pima cotton sheets, which are both very long cotton fibers, so they make for good long-lasting sheets, but they’re not a make-or-break requirement. They’ll probably just add a few more years to a long lifespan that you’ll get from other cotton or bamboo woven sheets.

Shop around with this in mind and you’ll find something long lasting for a good price.

Q6: Noisy neighborhood while telecommuting

Right now I live in a neighborhood with a ton of construction going on so all day long I hear jackhammers and beeps and the usual noise of home and road construction. I telecommute 4 out of 5 days so I hear this all day at home and it is really distracting. Do you have any suggestions on how to handle this? I know you have telecommuted for years so you may have smart strategies! I hope!
– Vincent

When there’s construction in my area – and there sometimes is construction nearby because houses are being built to the east of my home – and I can’t focus, I pack up a backpack and head to the library. I’ll usually go there, reserve a room, and work on my laptop. The quiet rooms at my library are very quiet – so quiet that I’ll often play ambient noise so that it’s not creepy.

If that’s a non-starter for time management reasons, I’ll stay at home and do tasks that don’t require intense focus, like going through emails or other such things. So, if the construction starts up at two in the afternoon, I don’t run to the library.

The thing to remember is that the construction won’t last forever. They’ll build the house or fix the road and then they’ll disappear and you’ll be back to the normal ambient noise of your neighborhood.

Q7: Best streaming music bargain

What do you think is the best bargain for streaming music? Pandora or Spotify? Something else that’s not on my radar? I like to listen to music throughout the day but don’t own or want to buy that many albums or songs and I hate nonstop radio commercials. Willing to pay $10 a month for the best service.
– Patrick

Having tried most of the big ones (including my favorite, Rdio, which is now out of business), I think there are four choices worth considering and they appeal to different people.

First, you have Pandora. I would choose Pandora if you’re more interested in a “radio station” vibe where they’ll play a mix of songs you’re familiar with and ones that might help you discover new artists that you like. While you can control the type of music that it plays, you can’t burrow down to make it play specific songs very well – it’s more like creating a radio station with songs similar to, say, Pearl Jam, and you’ll hear a lot of 90s alternative and groups with a similar sound from different eras.

Spotify is probably the best if you have diverse music tastes and want to be able to make playlists of specific songs that you choose. They have the largest overall library.

Tidal is probably the best choice if you’re a fan of R&B and rap or are a serious audiophile. They have the most exclusive music of these services, but once you’re outside the R&B/rap genres, their selection is fairly spotty. They have the highest quality streaming audio, meaning if you have nice speakers you may be able to notice it, but Tidal is also the most expensive option.

Finally, you have Amazon Prime Music. It’s free with an annual Amazon Prime subscription (which gives you free two day shipping on most things sold on Amazon). It’s similar to Spotify – you can define your own playlists, etc. – but the library isn’t as large.

I personally prefer Pandora, as I like the $5 a month with no ads price point (or free with ads) and I like the variety and discovery of it. I’ve found many artists that I quite like thanks to Pandora. However, if you already have Amazon Prime, Prime Music is free, so it’s hard to argue with that.

Q8: Black Friday and big purchases

Liked your post last week about Black Friday. What are your thoughts on Black Friday as a whole? Do you think it’s a good time to buy preplanned big purchases like a new TV? If you’re saving up to replace an aging TV is Black Friday the time to do it?
– Donald

That’s one of the few things that Black Friday is good for, in my opinion. If you’re planning on making a big purchase, Black Friday is a great day to bargain hunt for that specific purchase.

The danger of Black Friday is that you’ll enter into a bit of a “shopping frenzy” and buy lots of things impulsively that you don’t need. It’s great for specific preplanned purchases. Things go off the rails when you start buying things that aren’t carefully planned.

It sounds like this television purchase is at least somewhat planned, so, by all means, shop around for a TV on Black Friday. Just don’t buy other stuff as well unless you were planning on it before looking at the flyers.

Q9: Gifts for distant people

This is the first Christmas that my oldest child has truly lived outside the home completely. When he was in college, he was home often enough that I felt really in touch with his interests so I could give him thoughtful gifts for Christmas and the year after college he lived at home with us while looking for a job. In February he moved to Boston and though we text a lot and talk on the phone I have only seen him a few times this year. He is coming back for a week for Christmas and I want to make it special.

The problem is that I don’t have any idea what to get him. I feel a bit less in touch with his life in terms of what he does each day and what he has.

My parents passed away before I was old enough to really leave the nest fully and so I don’t have them to rely on for advice. I have read your site for almost a decade and this is the first time I have asked for advice. It’s not really “money advice” but it’s something that feels like you can help.
– Tina

My recommendation here is communication. Try to have a few extra conversations in the next few weeks with your son. It sounds like he may not be coming back for Thanksgiving, so give him a call or two during this week and just talk to him about his life. Ask what he’s into these days and ask about his day.

The key is to listen. Stop thinking about what you’re going to say next in the conversation and just focus on listening. He’ll probably tell you things that he wants, at least on some level. Maybe he’ll talk about things in Boston that he loves, so you could get him a museum pass or some Red Sox tickets or something like that. Maybe he’ll complain about cutting himself while shaving, so a really nice electric razor would be a thoughtful gift.

Just listen. When you really listen, people often tell you what they want. It’s just hard to actually shut ourselves down and just listen. Try it. It might be easier than you think.

Q10: Inexpensive daily shaving routine

How do you minimize the cost of a daily shaving routine? I have had a beard for many years which I have kept trimmed with a beard trimmer and occasional edging about once a week. I am going clean shaven for my new job and do not have a shaving routine established yet. I know electronic razors are really expensive and cartridge razors aren’t bad up front but have an expensive upkeep. What’s the best “bang for the buck” for shaving?
– Clancy

The most cost effective daily shaving routine is to use an old-fashioned safety razor and individual replacement blades. A good safety razor costs $20 to $30 up front (or less if you find one at a secondhand store), and replacement blades, when bought in bulk, cost a few pennies each at most.

The catch? Shaving with an old-fashioned safety razor is a little different than a cartridge razor. You have to be very gentle and let the razor do the work, and if you’re learning how to do it, you probably will cut yourself a few times until you master the technique. You may also find it “rough” on the skin at first.

Stick with it. It’s worth it. Just take it slow at first and make sure to let the razor do all the work. Don’t push it into your skin, but let it glide as gently as possible.

Q11: Resume value from fast food?

I have been working at the same Taco Bell for three years while in school. I am making enough to help with housing costs and meals and so on so my loans are lower. I am graduating in December and am wondering how to get the most “resume value” from this job in 2017.
– Neal

Honestly, your best approach is to probably sit down with your supervisor and talk to him or her about it. The ideal position for you would be a one year stint as a shift manager or assistant manager of some kind, because that would indicate a mix of hard work and responsibility and leadership on your resume.

The availability of positions like that depends a lot on the current state of your restaurant’s employees. There may be many such slots available or they may be all filled up.

I would suggest to you that you just talk to your manager about this, particularly if you have a good employment history there. Explain what’s going on in your life and that you’re looking to improve your resume after graduation and ideally get some real-world leadership experience. While it may not mean a bump in pay, it will definitely look better on a resume.

Q12: Simple cheap healthy lunches

What do you prepare for weekend lunches for your kids that are healthy and cheap and they won’t complain about it? The only thing my 6 and 4 year old ever want is mac and cheese which isn’t too expensive but is about as unhealthy as you can get.
– Sandy

Honestly, what I do is prepare extra servings of the meals that I know my children like during the week.

If we’re having a dinner during the week that I know my kids love, like spaghetti, I’ll plan on having it later in the week and make more than we’ll eat at the dinner table. I’ll save the leftovers and do something with it on Saturday for lunch, like make a spaghetti bake (put all leftover spaghetti into a casserole dish, top with cheese, bake for 25 minutes at 350F). If it’s something that’s more experimental, I usually make enough for just our family dinner and leftovers for Sarah and myself the next day; I save the “extra leftover” meals for things that I know the kids will like.

That way, we’re not stuck having mac and cheese for lunch on Saturday – instead, they’re having a leftover-based meal of something that I know is reasonably healthy and that they like. It’s cheap, it’s easy, it’s reasonably healthy – perfect for weekend lunches with the kids.

Got any questions? The best way to ask is to follow me on Facebook and ask questions directly there. I’ll attempt to answer them in a future mailbag (which, by way of full disclosure, may also get re-posted on other websites that pick up my blog). However, I do receive many, many questions per week, so I may not necessarily be able to answer yours.

The post Questions About Weekend Lunches, Bed Linens, Shaving, Virtual Account Numbers, and More! appeared first on The Simple Dollar.

Source The Simple Dollar http://ift.tt/2gvbWL3