March 2020

Behind the Scenes of 5 Professional Athletes Who Are Struggling Financially

I always find it so interesting to see some of the inner workings of professional athletes and famous people’s finances. Below are five professional athletes who filed bankruptcy and have struggled in the past financially for a variety of reasons. Five Professional Athletes Who Are Struggling Financially Antoine Walker Former Boston Celtics star Antoine Walker spent the $110 million he made playing in the NBA in a ton of different ways. He spent lavishly on himself, but many people have said that he also supported up to 70 people during his career. He is reported to have bought his mother a mansion, donated to charity, and bought several custom suits for coaches and teammates. Mike Tyson Despite earning between $300 and $500 … Read more

Insurance Companies Can Easily Spot Fraudulent Insurance Claims

by Hank Coleman

Fraudulent Insurance Claims Are Easily Spotted

Spotting fraudulent insurance claims is an important job for most insurance companies. The mounting losses from false and fraudulent insurance claims reported by customers can reach into the billions of dollars each year. Money lost from fraudulent insurance claims comes directly out of the insurance companies’ coffers and results in an overall insurance cost increase for honest customers. Many people mistakenly think that they can get away with filing a false claim, but the insurance industry watches claims meticulously. Insurance companies in the United States watch for suspicious indicators in order to help them prevent losses from fraudulent insurance claims cases. For example, an insurance company may conduct additional investigations before paying out a suspicious claim if the policyholder has a high debt … Read more

6 Steps to Help You Save for Your Next Big Purchase

by Hank Coleman

Tips Saving Down Payment and Buying A House With Student Loan Debt

Do you need to upgrade your car in the near future? What about finally getting started on that home renovation project you’ve been procrastinating on? Or are you trying to save up for an international vacation next summer or need to save for a big purchase? How to save for a big purchase Regardless of what big-ticket item you’re currently saving for, there are a few useful ways to speed up your progress towards your savings goals (and countless ways you may be inadvertently hindering that progress without realizing it). Rather than eliminating everything fun from your budget and living a stingy lifestyle until you meet your goals, here are some realistic strategies for saving up for a big purchase: … Read more

The Pros and Cons of Using Robo Advisors to Invest

by Hank Coleman

Have you been waiting to get started in investing because you think it’s confusing? Do you think that too much money is required to start, or financial advisors are too expensive? Have you considered robo advisors? Are robo advisors safe? Investing doesn’t have to be hard. A new investment method called robo advisors has been changing the financial landscape recently. And, it’s something that you may want to consider. What Is a Robo Advisor? A robo advisor is an online wealth management service that provides automated, algorithm-based investment portfolio management advice without the use of human financial planners. They use the same software as traditional advisors, but they usually only offer investment portfolio management. They do not get involved in more personal aspects of financial planning, … Read more

Why You Cannot Sue Your Neighbor or Insurance for an Act Of God

by Hank Coleman

An act of God, believe it or not, is a legal term describing events outside human control, such as floods or other natural disasters, for which no one can be held accountable for themself. In contract law, an act of God may be interpreted as implied deference under the rule of impossibility. If that is the case, whatever contractual promise was made is discharged because you cannot sue for an act of God, which would result in unavoidable or insurmountable delay or expense. Why You Cannot Sue for Damages from an Act of God Since this act was unforeseen and caused unavoidable or insurmountable damage, you generally cannot sue for damages that come as a result. Take, for example, a … Read more

Top 4 Simple Ways to Generate Income Outside of a 9-to-5

by Collaborative Poster

What are your goals when making and saving money and generate income? Is it to have an emergency fund? Or is it to fund your 100 goals? Whatever the reason, right now, you might be feeling a little uneasy with the huge swings in the market. You’re not the only one. An emergency fund can help immensely during downturns, but what are some of the options to help increase income? Ways to generate income Passive income One of the best ways to make money is referred to as passive income. This does not mean it’s income you haven’t worked hard for. Instead, it means you continue to make money on it long after the work has been done. The most … Read more