Top 4 Simple Ways How to Better Manage Your Medical Debts

Benefits of a health savings account

A survey of 20 million Credit Karma members conducted in summer 2020 found over $45 billion of medical debt in collections. Previous studies on medical debt have found that hospital bills are typically the #1 cause of personal bankruptcy in the U.S. In the wake of a global pandemic that hit Americans particularly hard – in terms of job losses and skyrocketing hospital bills – the issue of medical debts will likely become more prominent in public conversations in the years to come. How to Better Manage Your Medical Debts If you’ve received an astonishingly expensive medical bill before or you’re currently agonizing over how to repay outstanding medical debts, there are some strategies you can try without having to … Read more

Pros and Cons of Putting Less Than 20% Down Payment on a House

Why I Don't Mind Losing Money as a Landlord

For decades, 20% has been the golden standard for down payments on a home, but is that still the case today? With more and more Millennial consumers entering the housing market – many of them already averaging $27,000 in non-mortgage debt – lenders have increasingly offered favorable options to help individuals and families achieve their homeownership dreams without requiring the full 20% down payment beforehand. After all, a 2020 report from the National Association of Realtors found that a whopping 30% of 22-29 year-old homebuyers agreed that “saving for a down payment” was the hardest part of the home-buying process (20% of 30-39 year-olds agreed with this statement as well). Of those survey respondents, 59% of the 22-29 year-olds and … Read more

Top 4 Key Financial Planning Strategies for Dual Income No Kids (DINK) Couples

dual income no kids

The costs of having kids have skyrocketed over the past several years, as expenses like childcare, education tuition, and other essentials continue to outpace average inflation rates. For dual income no kids (DINK) couples, kid-related costs won’t factor into your financial planning efforts for the most part, which means your budget, savings goals, and investment strategies will look pretty different from other families’ finances. Regardless of the reasons why you’re child-free, it would be best if you still had a solid financial strategy in place to ensure you and your partner are secure in both the short and long term as a dual income no kids (DINK) couple. You may not need to worry about affording childcare, contributing to 529 … Read more

Top 5 Essential Ways the COVID-19 Pandemic Will Change Personal Finance

change personal finance

When Covid-19 first hit the U.S. in the spring of 2020, we witnessed one of the largest and fastest unemployment spikes in American history. While the stock market has rebounded to all-time highs during the pandemic, Main Street has been spiraling downward.  Covid will change personal finance. The Center on Budget and Policy Priorities estimated that 11% of adults in the U.S. didn’t have enough to eat over the past 7 days (compared to 3.4% of adults who reported insufficient access to food over the course of 12 whole months before the pandemic). The CBPP data from January 2021 also showed that 21% of adults were behind on rent, and 35% had reportedly struggled to pay for typical household expenses … Read more

Easy Ways to Lose Money in Your Construction Business (To Avoid)

When you find the opportunity to get involved in construction in an area that is developing, there is a serious potential for profits to be made. Starting a construction business to meet those opportunities can be a very lucrative move. However, whether due to inexperience or just some negligence, it’s easy for new construction companies to hit some major roadblocks that eat into their profits and even put them at existential risk.  Here, we’re going to look at five of the easiest ways to lose money in a fledgling construction business and what you can do to prevent or fix it. You will lose money if… … you can’t manage a productive team Poor productivity has a range of causes. … Read more

Do These 3 Things to Sell Your House Fast and for Maximum Profit

Don’t panic! I’m not about to start recommending that you bake some bread or put chocolate chip cookies in the oven when people come over for an open house. Instead, in this post, I want to focus on the practical aspect of your property that will make it more appealing to buyers, sell your house faster, and ensure you can ask for the highest price. Please keep reading to find out what they are.  How to Sell Your House Fast Create a great first impression  Most posts on creating a great first impression for your property will talk about curb appeal, and jazzing up the front facade of your house. Indeed, such work is an important aspect of creating a … Read more